# Value of 1999 Australian Dollars today

\$100 in 1999

\$168.39 in 2019

The inflation rate in Australia between 1999 and today has been 68.39%, which translates into a total increase of \$68.39. This means that 100 dolars in 1999 are equivalent to 168.39 dolars in 2019. In other words, the purchasing power of \$100 in 1999 equals \$168.39 today. The average annual inflation rate has been 2.51%.

## Inflation timeline in Australia (1999-2019)

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 (1999-2019) 68.29%
Total Inflation* 68.39%
Annual inflation avg. (1999-2019) 2.64%
Annual inflation avg.* 2.51%
CPI 1999 62.97
CPI 2019 105.97
CPI today* 106.03
\$1 in 1999 \$1.68 in 2019

* 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 in 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 20 years between 1999 and 2019 and the average inflation rate has been 2.5125%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = \$100 * (1 + 0.03)20 = \$168.29

#### 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 1999 was 62.97 and the CPI today is 106.03. Therefore,

Final value = Initial value *
CPI final/CPI initial
= \$100 *
105.97/62.97
= \$168.29

### Australia inflation - Conversion table

Initial Value Equivalent value
\$1 dollar in 1999 \$1.68 dolars today
\$5 dolars in 1999 \$8.42 dolars today
\$10 dolars in 1999 \$16.84 dolars today
\$50 dolars in 1999 \$84.19 dolars today
\$100 dolars in 1999 \$168.39 dolars today
\$500 dolars in 1999 \$841.95 dolars today
\$1,000 dolars in 1999 \$1,683.89 dolars today
\$5,000 dolars in 1999 \$8,419.46 dolars today
\$10,000 dolars in 1999 \$16,838.91 dolars today
\$50,000 dolars in 1999 \$84,194.56 dolars today
\$100,000 dolars in 1999 \$168,389.12 dolars today
\$500,000 dolars in 1999 \$841,945.62 dolars today
\$1,000,000 dolars in 1999 \$1,683,891.25 dolars today

Period Value
1999 100
2000 101.92
2001 107.82
2002 111.21
2003 114.45
2004 117.26
2005 120.21
2006 123.6
2007 127.73
2008 131.42
2009 136.28
2010 139.09
2011 142.92
2012 147.2
2013 150.44
2014 154.57
2015 157.23
2016 159.88
2017 162.24
2018 165.34
2019 168.29
Today 168.39