# Value of 2010 Australian Dollars today

\$100 in 2010

\$124.34 in 2021

The inflation rate in Australia between 2010 and today has been 24.34%, which translates into a total increase of \$24.34. This means that 100 dolars in 2010 are equivalent to 124.34 dolars in 2021. In other words, the purchasing power of \$100 in 2010 equals \$124.34 today. The average annual inflation rate has been 1.83%.

## Inflation timeline in Australia (2010-2021)

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 (2010-2021) 24.28%
Total Inflation* 24.34%
Annual inflation avg. (2010-2021) 2%
Annual inflation avg.* 1.83%
CPI 2010 87.58
CPI 2021 108.85
CPI today* 108.9
\$1 in 2010 \$1.24 in 2021

* 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 with 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 11 years between 2010 and 2021 and the average inflation rate has been 1.832%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = \$100 * (1 + 0.02)11 = \$124.28

#### 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 2010 was 87.58 and the CPI today is 108.9. Therefore,

Final value = Initial value *
CPI final/CPI initial
= \$100 *
108.85/87.58
= \$124.28

### Australia inflation - Conversion table

Initial Value Equivalent value
\$1 dollar in 2010 \$1.24 dolars today
\$5 dolars in 2010 \$6.22 dolars today
\$10 dolars in 2010 \$12.43 dolars today
\$50 dolars in 2010 \$62.17 dolars today
\$100 dolars in 2010 \$124.34 dolars today
\$500 dolars in 2010 \$621.7 dolars today
\$1,000 dolars in 2010 \$1,243.41 dolars today
\$5,000 dolars in 2010 \$6,217.03 dolars today
\$10,000 dolars in 2010 \$12,434.07 dolars today
\$50,000 dolars in 2010 \$62,170.35 dolars today
\$100,000 dolars in 2010 \$124,340.7 dolars today
\$500,000 dolars in 2010 \$621,703.48 dolars today
\$1,000,000 dolars in 2010 \$1,243,406.95 dolars today

Period Value
2010 100
2011 102.76
2012 105.83
2013 108.17
2014 111.13
2015 113.04
2016 114.95
2017 116.65
2018 118.88
2019 121
2020 123.22
2021 124.28
Today 124.34