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Value of 2005 Australian Dollars today

$123 in 2005
$209.21 in 2024

The inflation rate in Australia between 2005 and today has been 70.09%, which translates into a total increase of $86.21. This means that 123 dollars in 2005 are equivalent to 209.21 dollars in 2024. In other words, the purchasing power of $123 in 2005 equals $209.21 today. The average annual inflation rate between these periods has been 2.83%.

Inflation timeline in Australia (2005 - 2024)

The following chart depicts the equivalence of $123 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 2005-2023 62.01%
Cumulative inflation 2005-today 70.09%
Avg. Annual inflation 2005-2023 2.72%
CPI 2005 77.06
CPI 2023 124.84
CPI 2023-Q4 (latest official data) 126.4
CPI today 131.07

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 2005 and 2023, use the corresponding CPI values:

Value2023
=Value2005 ×
CPI2023/CPI2005
=$ 123 ×
124.84/77.06
$199.27

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 131.07:

Valuetoday
=Value2005 ×
CPItoday/CPI2005
=$ 123 ×
131.07/77.06
$209.21

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 $123 worth today. There are 18 years between 2005 and 2023 and the average inflation rate was 2.7166%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$123 × (1 + 0.027166)18
$199.27

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 2005 $1.62 dollars in 2023
$5 dollars in 2005 $8.1 dollars in 2023
$10 dollars in 2005 $16.2 dollars in 2023
$50 dollars in 2005 $81 dollars in 2023
$100 dollars in 2005 $162.01 dollars in 2023
$500 dollars in 2005 $810.03 dollars in 2023
$1,000 dollars in 2005 $1,620.07 dollars in 2023
$5,000 dollars in 2005 $8,100.33 dollars in 2023
$10,000 dollars in 2005 $16,200.67 dollars in 2023
$50,000 dollars in 2005 $81,003.33 dollars in 2023
$100,000 dollars in 2005 $162,006.65 dollars in 2023
$500,000 dollars in 2005 $810,033.27 dollars in 2023
$1,000,000 dollars in 2005 $1,620,066.55 dollars in 2023
Cumulative inflation From 2005 70.09%
Avg. annual inflation From 2005 2.83%
CPI 2005 77.06
CPI today 131.07

Value of Dollar over time (by year)

Period Value
2005 123
2006 127.37
2007 130.34
2008 136.01
2009 138.42
2010 142.46
2011 147.16
2012 149.76
2013 153.43
2014 157.24
2015 159.61
2016 161.65
2017 164.8
2018 167.95
2019 170.66
2020 172.1
2021 177.03
2022 188.71
2023 199.27
2023-Q4 201.75
Today 209.21

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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