$

Value of 1984 Australian Dollars today

$100 in 1984
$378.1 in 2024

The inflation rate in Australia between 1984 and today has been 278.1%, which translates into a total increase of $278.1. This means that 100 dollars in 1984 are equivalent to 378.1 dollars in 2024. In other words, the purchasing power of $100 in 1984 equals $378.1 today. The average annual inflation rate between these periods has been 3.38%.

Inflation timeline in Australia (1984 - 2024)

The following chart depicts the equivalence of $100 due to compound inflation and CPI changes. All values are equivalent in terms of purchasing power, which means that for each year the same goods or services could be bought with the indicated amount of money.

All calculations are performed in the local currency (AUD) and using 6 decimal digits. Results show only up to 2 decimal digits to favour readability. Inflation data is provided by governments and international institutions on a monthly basis. Today's values were extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 1984-2023 265.78%
Cumulative inflation 1984-today 278.1%
Avg. Annual inflation 1984-2023 3.38%
CPI 1984 34.13
CPI 2023 124.84
CPI 2024-Q1 (latest official data) 127.61
CPI today 129.05

How to calculate today's value of money after inflation?

There are several ways to calculate the time value of money. Depending on the data available, results can be obtained by using the Consumer Price Index (CPI) formula or the compound interest formula.

Using the CPI formula

When we have both the start and end years, we can use the following formula:

Valuet =Value0 ×
CPIt/CPI0

To obtain the values equivalent in buying power between 1984 and 2023, use the corresponding CPI values:

Value2023
=Value1984 ×
CPI2023/CPI1984
=$ 100 ×
124.84/34.13
$365.78

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 129.05:

Valuetoday
=Value1984 ×
CPItoday/CPI1984
=$ 100 ×
129.05/34.13
$378.1

Alternative: Using the compound interest formula

Given that money changes with time as a result of an inflation rate that acts as compound interest, we can use the following formula: FV = PV × (1 + i)n, where:

  • FV: Future Value
  • PV: Present Value
  • i: Interest rate (inflation)
  • n: Number of times the interest is compounded (i.e. # of years)

In this case, the future value represents the final amount obtained after applying the inflation rate to our initial value. In other words, it indicates how much are $100 worth today. There are 39 years between 1984 and 2023 and the average inflation rate was 3.3812%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$100 × (1 + 0.033812)39
$365.78

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1984 $3.66 dollars in 2023
$5 dollars in 1984 $18.29 dollars in 2023
$10 dollars in 1984 $36.58 dollars in 2023
$50 dollars in 1984 $182.89 dollars in 2023
$100 dollars in 1984 $365.78 dollars in 2023
$500 dollars in 1984 $1,828.91 dollars in 2023
$1,000 dollars in 1984 $3,657.82 dollars in 2023
$5,000 dollars in 1984 $18,289.12 dollars in 2023
$10,000 dollars in 1984 $36,578.23 dollars in 2023
$50,000 dollars in 1984 $182,891.16 dollars in 2023
$100,000 dollars in 1984 $365,782.33 dollars in 2023
$500,000 dollars in 1984 $1,828,911.63 dollars in 2023
$1,000,000 dollars in 1984 $3,657,823.25 dollars in 2023
Cumulative inflation From 1984 278.1%
Avg. annual inflation From 1984 3.38%
CPI 1984 34.13
CPI today 129.05

Value of Dollar over time (by year)

Period Value
1984 100
1985 106.73
1986 116.39
1987 126.33
1988 135.44
1989 145.65
1990 156.33
1991 161.29
1992 162.93
1993 165.78
1994 169.05
1995 176.87
1996 181.5
1997 181.9
1998 183.47
1999 186.19
2000 194.49
2001 203.06
2002 209.12
2003 214.83
2004 219.86
2005 225.78
2006 233.81
2007 239.25
2008 249.66
2009 254.08
2010 261.5
2011 270.14
2012 274.9
2013 281.63
2014 288.64
2015 292.99
2016 296.73
2017 302.52
2018 308.3
2019 313.27
2020 315.92
2021 324.97
2022 346.39
2023 365.78
2024-Q1 373.88
Today 378.1

All available years

Today's value of australian dollars by year:

1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |

Other currencies: