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Value of 1989 Australian Dollars today

$100 in 1989
$264.1 in 2024

The inflation rate in Australia between 1989 and today has been 164.1%, which translates into a total increase of $164.1. This means that 100 dollars in 1989 are equivalent to 264.1 dollars in 2024. In other words, the purchasing power of $100 in 1989 equals $264.1 today. The average annual inflation rate between these periods has been 2.81%.

Inflation timeline in Australia (1989 - 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 1989-2023 151.14%
Cumulative inflation 1989-today 164.1%
Avg. Annual inflation 1989-2023 2.75%
CPI 1989 49.71
CPI 2023 124.84
CPI 2023-Q4 (latest official data) 126.4
CPI today 131.28

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 1989 and 2023, use the corresponding CPI values:

Value2023
=Value1989 ×
CPI2023/CPI1989
=$ 100 ×
124.84/49.71
$251.14

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 131.28:

Valuetoday
=Value1989 ×
CPItoday/CPI1989
=$ 100 ×
131.28/49.71
$264.1

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 34 years between 1989 and 2023 and the average inflation rate was 2.7454%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$100 × (1 + 0.027454)34
$251.14

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1989 $2.51 dollars in 2023
$5 dollars in 1989 $12.56 dollars in 2023
$10 dollars in 1989 $25.11 dollars in 2023
$50 dollars in 1989 $125.57 dollars in 2023
$100 dollars in 1989 $251.14 dollars in 2023
$500 dollars in 1989 $1,255.72 dollars in 2023
$1,000 dollars in 1989 $2,511.44 dollars in 2023
$5,000 dollars in 1989 $12,557.22 dollars in 2023
$10,000 dollars in 1989 $25,114.44 dollars in 2023
$50,000 dollars in 1989 $125,572.2 dollars in 2023
$100,000 dollars in 1989 $251,144.39 dollars in 2023
$500,000 dollars in 1989 $1,255,721.96 dollars in 2023
$1,000,000 dollars in 1989 $2,511,443.93 dollars in 2023
Cumulative inflation From 1989 164.1%
Avg. annual inflation From 1989 2.81%
CPI 1989 49.71
CPI today 131.28

Value of Dollar over time (by year)

Period Value
1989 100
1990 107.33
1991 110.74
1992 111.86
1993 113.83
1994 116.07
1995 121.44
1996 124.61
1997 124.89
1998 125.97
1999 127.84
2000 133.54
2001 139.42
2002 143.58
2003 147.5
2004 150.96
2005 155.02
2006 160.53
2007 164.27
2008 171.42
2009 174.45
2010 179.54
2011 185.47
2012 188.74
2013 193.37
2014 198.18
2015 201.17
2016 203.74
2017 207.71
2018 211.68
2019 215.09
2020 216.91
2021 223.12
2022 237.83
2023 251.14
2023-Q4 254.27
Today 264.1

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 | 2022 | 2023 |

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