$

Value of 1988 Australian Dollars today

$100 in 1988
$252.7 in 2022

The inflation rate in Australia between 1988 and today has been 152.7%, which translates into a total increase of $152.7. This means that 100 dollars in 1988 are equivalent to 252.7 dollars in 2022. In other words, the purchasing power of $100 in 1988 equals $252.7 today. The average annual inflation rate between these periods has been 2.76%.

Inflation timeline in Australia (1988 - 2022)

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 1988-2021 139.93%
Cumulative inflation 1988-today 152.7%
Avg. Annual inflation 1988-2021 2.69%
CPI 1988 46.23
CPI 2021 110.91
CPI 2022-Q1 (latest official data) 115.07
CPI today 116.82

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 1988 and 2021, use the corresponding CPI values:

Value2021
=Value1988 ×
CPI2021/CPI1988
=$ 100 ×
110.91/46.23
$239.93

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 116.82:

Valuetoday
=Value1988 ×
CPItoday/CPI1988
=$ 100 ×
116.82/46.23
$252.7

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 33 years between 1988 and 2021 and the average inflation rate was 2.6875%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=$100 × (1 + 0.026875)33
$239.93

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1988 $2.4 dollars in 2021
$5 dollars in 1988 $12 dollars in 2021
$10 dollars in 1988 $23.99 dollars in 2021
$50 dollars in 1988 $119.96 dollars in 2021
$100 dollars in 1988 $239.93 dollars in 2021
$500 dollars in 1988 $1,199.65 dollars in 2021
$1,000 dollars in 1988 $2,399.3 dollars in 2021
$5,000 dollars in 1988 $11,996.49 dollars in 2021
$10,000 dollars in 1988 $23,992.98 dollars in 2021
$50,000 dollars in 1988 $119,964.88 dollars in 2021
$100,000 dollars in 1988 $239,929.76 dollars in 2021
$500,000 dollars in 1988 $1,199,648.82 dollars in 2021
$1,000,000 dollars in 1988 $2,399,297.64 dollars in 2021
Cumulative inflation From 1988 152.7%
Avg. annual inflation From 1988 2.76%
CPI 1988 46.23
CPI today 116.82

Value of Dollar over time (by year)

Period Value
1988 100
1989 107.53
1990 115.42
1991 119.09
1992 120.29
1993 122.4
1994 124.81
1995 130.59
1996 134
1997 134.3
1998 135.46
1999 137.47
2000 143.6
2001 149.92
2002 154.39
2003 158.61
2004 162.33
2005 166.7
2006 172.63
2007 176.64
2008 184.33
2009 187.59
2010 193.07
2011 199.45
2012 202.96
2013 207.94
2014 213.11
2015 216.32
2016 219.09
2017 223.36
2018 227.62
2019 231.29
2020 233.25
2021 239.93
2022-Q1 248.92
Today 252.7

All available years

Today's value of australian dollars by year:

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 |

Other currencies: