Value of 1988 Australian Dollars today

$100 in 1988

$238.45 in 2018

The inflation rate in Australia between 1988 and today has been 138.45%, which translates into a total increase of $138.45. This means that 100 dolars in 1988 are equivalent to 238.45 dolars in 2018. In other words, the purchasing power of $100 in 1988 equals $238.45 today. The average annual inflation rate has been 2.84%.

Inflation timeline in Australia (1988-2018)

The following chart ilustrates the equivalence of $100 throughout the years due to inflation and CPI changes. All values are equivalent in terms of purchashing 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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1988-2018) 135.5%
Total Inflation* 138.45%
Annual inflation avg. (1988-2018) 2.9%
Annual inflation avg.* 2.84%
CPI 1988 44.21
CPI 2018 104.11
CPI today* 105.41
$1 in 1988 $2.36 in 2018

* Values extrapolated from the last official data to obtain today's values.

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 compound interest formula or the Consumer Price Index (CPI) formula.

Using the compound interest formula

Given that money changes in time as a result of an inflation rate that acts as a compound interest, the following formula can be used: 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 30 years between 1988 and 2018 and the average inflation rate has been 2.8428%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = $100 * (1 + 0.03)30 = $235.5

Using the CPI formula

When the CPI for both start and end years is known, the following formula can be used:

Final value = Initial value *
CPI final/CPI initial

In this case, the CPI in 1988 was 44.21 and the CPI today is 105.41. Therefore,

Final value = Initial value *
CPI final/CPI initial
= $100 *
104.11/44.21
= $235.5

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1988 $2.38 dolars today
$5 dolars in 1988 $11.92 dolars today
$10 dolars in 1988 $23.84 dolars today
$50 dolars in 1988 $119.22 dolars today
$100 dolars in 1988 $238.45 dolars today
$500 dolars in 1988 $1,192.23 dolars today
$1,000 dolars in 1988 $2,384.46 dolars today
$5,000 dolars in 1988 $11,922.31 dolars today
$10,000 dolars in 1988 $23,844.62 dolars today
$50,000 dolars in 1988 $119,223.1 dolars today
$100,000 dolars in 1988 $238,446.19 dolars today
$500,000 dolars in 1988 $1,192,230.96 dolars today
$1,000,000 dolars in 1988 $2,384,461.93 dolars today

Value of Dollar in time (by year)

Period Value
1988 100
1989 107.56
1990 115.97
1991 123.95
1992 125.84
1993 126.26
1994 128.57
1995 131.93
1996 138.66
1997 140.76
1998 140.34
1999 142.44
2000 145.17
2001 153.57
2002 158.4
2003 163.03
2004 167.02
2005 171.22
2006 176.05
2007 181.93
2008 187.18
2009 194.12
2010 198.11
2011 203.57
2012 209.66
2013 214.29
2014 220.17
2015 223.95
2016 227.73
2017 231.09
2018 235.5
Today 238.45