# Value of 1991 Australian Dollars today

\$100 in 1991

\$198.73 in 2021

The inflation rate in Australia between 1991 and today has been 98.73%, which translates into a total increase of \$98.73. This means that 100 dolars in 1991 are equivalent to 198.73 dolars in 2021. In other words, the purchasing power of \$100 in 1991 equals \$198.73 today. The average annual inflation rate has been 2.24%.

## Inflation timeline in Australia (1991-2021)

The following chart depicts the equivalence of \$100 throughout the years due to 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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1991-2021) 98.64%
Total Inflation* 98.73%
Annual inflation avg. (1991-2021) 2.31%
Annual inflation avg.* 2.24%
CPI 1991 54.79
CPI 2021 108.85
CPI today* 108.89
\$1 in 1991 \$1.99 in 2021

* 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 with 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 1991 and 2021 and the average inflation rate has been 2.2401%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = \$100 * (1 + 0.02)30 = \$198.64

#### 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 1991 was 54.79 and the CPI today is 108.89. Therefore,

Final value = Initial value *
CPI final/CPI initial
= \$100 *
108.85/54.79
= \$198.64

### Australia inflation - Conversion table

Initial Value Equivalent value
\$1 dollar in 1991 \$1.99 dolars today
\$5 dolars in 1991 \$9.94 dolars today
\$10 dolars in 1991 \$19.87 dolars today
\$50 dolars in 1991 \$99.36 dolars today
\$100 dolars in 1991 \$198.73 dolars today
\$500 dolars in 1991 \$993.65 dolars today
\$1,000 dolars in 1991 \$1,987.3 dolars today
\$5,000 dolars in 1991 \$9,936.48 dolars today
\$10,000 dolars in 1991 \$19,872.96 dolars today
\$50,000 dolars in 1991 \$99,364.81 dolars today
\$100,000 dolars in 1991 \$198,729.62 dolars today
\$500,000 dolars in 1991 \$993,648.08 dolars today
\$1,000,000 dolars in 1991 \$1,987,296.17 dolars today

Period Value
1991 100
1992 101.53
1993 101.86
1994 103.73
1995 106.44
1996 111.86
1997 113.56
1998 113.22
1999 114.92
2000 117.12
2001 123.9
2002 127.8
2003 131.53
2004 134.75
2005 138.14
2006 142.03
2007 146.78
2008 151.02
2009 156.61
2010 159.83
2011 164.24
2012 169.15
2013 172.88
2014 177.63
2015 180.68
2016 183.73
2017 186.44
2018 190
2019 193.39
2020 196.95
2021 198.64
Today 198.73