$

Value of 2008 Australian Dollars today

$100 in 2008
$152.21 in 2024

The inflation rate in Australia between 2008 and today has been 52.21%, which translates into a total increase of $52.21. This means that 100 dollars in 2008 are equivalent to 152.21 dollars in 2024. In other words, the purchasing power of $100 in 2008 equals $152.21 today. The average annual inflation rate between these periods has been 2.66%.

Inflation timeline in Australia (2008 - 2024)

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 2008-2023 46.51%
Cumulative inflation 2008-today 52.21%
Avg. Annual inflation 2008-2023 2.58%
CPI 2008 85.21
CPI 2023 124.84
CPI 2024-Q1 (latest official data) 127.61
CPI today 129.69

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 2008 and 2023, use the corresponding CPI values:

Value2023
=Value2008 ×
CPI2023/CPI2008
=$ 100 ×
124.84/85.21
$146.51

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 129.69:

Valuetoday
=Value2008 ×
CPItoday/CPI2008
=$ 100 ×
129.69/85.21
$152.21

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 $100 worth today. There are 15 years between 2008 and 2023 and the average inflation rate was 2.579%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$100 × (1 + 0.02579)15
$146.51

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 2008 $1.47 dollars in 2023
$5 dollars in 2008 $7.33 dollars in 2023
$10 dollars in 2008 $14.65 dollars in 2023
$50 dollars in 2008 $73.26 dollars in 2023
$100 dollars in 2008 $146.51 dollars in 2023
$500 dollars in 2008 $732.56 dollars in 2023
$1,000 dollars in 2008 $1,465.12 dollars in 2023
$5,000 dollars in 2008 $7,325.61 dollars in 2023
$10,000 dollars in 2008 $14,651.23 dollars in 2023
$50,000 dollars in 2008 $73,256.15 dollars in 2023
$100,000 dollars in 2008 $146,512.29 dollars in 2023
$500,000 dollars in 2008 $732,561.46 dollars in 2023
$1,000,000 dollars in 2008 $1,465,122.92 dollars in 2023
Cumulative inflation From 2008 52.21%
Avg. annual inflation From 2008 2.66%
CPI 2008 85.21
CPI today 129.69

Value of Dollar over time (by year)

Period Value
2008 100
2009 101.77
2010 104.74
2011 108.2
2012 110.11
2013 112.81
2014 115.61
2015 117.36
2016 118.86
2017 121.17
2018 123.49
2019 125.48
2020 126.54
2021 130.16
2022 138.75
2023 146.51
2024-Q1 149.75
Today 152.21

All available years

Today's value of australian dollars by year:

1949 | 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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