$

Value of 1996 Australian Dollars today

$100 in 1996
$188.5 in 2022

The inflation rate in Australia between 1996 and today has been 88.5%, which translates into a total increase of $88.5. This means that 100 dollars in 1996 are equivalent to 188.5 dollars in 2022. In other words, the purchasing power of $100 in 1996 equals $188.5 today. The average annual inflation rate between these periods has been 2.47%.

Inflation timeline in Australia (1996 - 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 1996-2021 79.05%
Cumulative inflation 1996-today 88.5%
Avg. Annual inflation 1996-2021 2.36%
CPI 1996 61.95
CPI 2021 110.91
CPI 2022-Q1 (latest official data) 115.07
CPI today 116.77

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 1996 and 2021, use the corresponding CPI values:

Value2021
=Value1996 ×
CPI2021/CPI1996
=$ 100 ×
110.91/61.95
$179.05

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 116.77:

Valuetoday
=Value1996 ×
CPItoday/CPI1996
=$ 100 ×
116.77/61.95
$188.5

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 25 years between 1996 and 2021 and the average inflation rate was 2.3573%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=$100 × (1 + 0.023573)25
$179.05

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1996 $1.79 dollars in 2021
$5 dollars in 1996 $8.95 dollars in 2021
$10 dollars in 1996 $17.9 dollars in 2021
$50 dollars in 1996 $89.52 dollars in 2021
$100 dollars in 1996 $179.05 dollars in 2021
$500 dollars in 1996 $895.24 dollars in 2021
$1,000 dollars in 1996 $1,790.48 dollars in 2021
$5,000 dollars in 1996 $8,952.4 dollars in 2021
$10,000 dollars in 1996 $17,904.8 dollars in 2021
$50,000 dollars in 1996 $89,524.01 dollars in 2021
$100,000 dollars in 1996 $179,048.03 dollars in 2021
$500,000 dollars in 1996 $895,240.14 dollars in 2021
$1,000,000 dollars in 1996 $1,790,480.27 dollars in 2021
Cumulative inflation From 1996 88.5%
Avg. annual inflation From 1996 2.47%
CPI 1996 61.95
CPI today 116.77

Value of Dollar over time (by year)

Period Value
1996 100
1997 100.22
1998 101.09
1999 102.59
2000 107.16
2001 111.88
2002 115.22
2003 118.37
2004 121.14
2005 124.4
2006 128.82
2007 131.82
2008 137.56
2009 139.99
2010 144.08
2011 148.84
2012 151.46
2013 155.17
2014 159.03
2015 161.43
2016 163.49
2017 166.68
2018 169.87
2019 172.6
2020 174.06
2021 179.05
2022-Q1 185.76
Today 188.5

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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