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Value of 1994 Australian Dollars today

$100 in 1994
$203.58 in 2022

The inflation rate in Australia between 1994 and today has been 103.58%, which translates into a total increase of $103.58. This means that 100 dollars in 1994 are equivalent to 203.58 dollars in 2022. In other words, the purchasing power of $100 in 1994 equals $203.58 today. The average annual inflation rate between these periods has been 2.57%.

Inflation timeline in Australia (1994 - 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 1994-2021 92.23%
Cumulative inflation 1994-today 103.58%
Avg. Annual inflation 1994-2021 2.45%
CPI 1994 57.7
CPI 2021 110.91
CPI 2022-Q1 (latest official data) 115.07
CPI today 117.46

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 1994 and 2021, use the corresponding CPI values:

Value2021
=Value1994 ×
CPI2021/CPI1994
=$ 100 ×
110.91/57.7
$192.23

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 117.46:

Valuetoday
=Value1994 ×
CPItoday/CPI1994
=$ 100 ×
117.46/57.7
$203.58

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 27 years between 1994 and 2021 and the average inflation rate was 2.4501%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=$100 × (1 + 0.024501)27
$192.23

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1994 $1.92 dollars in 2021
$5 dollars in 1994 $9.61 dollars in 2021
$10 dollars in 1994 $19.22 dollars in 2021
$50 dollars in 1994 $96.12 dollars in 2021
$100 dollars in 1994 $192.23 dollars in 2021
$500 dollars in 1994 $961.17 dollars in 2021
$1,000 dollars in 1994 $1,922.33 dollars in 2021
$5,000 dollars in 1994 $9,611.67 dollars in 2021
$10,000 dollars in 1994 $19,223.35 dollars in 2021
$50,000 dollars in 1994 $96,116.73 dollars in 2021
$100,000 dollars in 1994 $192,233.46 dollars in 2021
$500,000 dollars in 1994 $961,167.32 dollars in 2021
$1,000,000 dollars in 1994 $1,922,334.65 dollars in 2021
Cumulative inflation From 1994 103.58%
Avg. annual inflation From 1994 2.57%
CPI 1994 57.7
CPI today 117.46

Value of Dollar over time (by year)

Period Value
1994 100
1995 104.63
1996 107.36
1997 107.61
1998 108.53
1999 110.14
2000 115.05
2001 120.12
2002 123.7
2003 127.08
2004 130.06
2005 133.56
2006 138.31
2007 141.53
2008 147.69
2009 150.3
2010 154.69
2011 159.8
2012 162.62
2013 166.6
2014 170.74
2015 173.32
2016 175.53
2017 178.95
2018 182.37
2019 185.31
2020 186.88
2021 192.23
2022-Q1 199.44
Today 203.58

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 |

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