The inflation rate in Australia between 1977 and 2018 was 458.13%, which translates into a total increase of $22.91. This means that 5 dollars in 1977 are equivalent to 27.91 dollars in 2018. In other words, the purchasing power of $5 in 1977 equals $27.91 in 2018. The average annual inflation rate between these periods was 4.28%.
The following chart depicts the equivalence of $5 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.
The following table contains relevant indicators:
| Indicator | Value |
|---|---|
| Cumulative inflation from 1977 to 2018 | 458.13% |
| Avg. Annual inflation from 1977 to 2018 | 4.28% |
| CPI 1977 | 18.85 |
| CPI 2018 | 105.22 |
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.
When we have both the start and end years, we can use the following formula:
To obtain the values equivalent in buying power between 1977 and 2018, use the corresponding CPI values:
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:
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 $5 worth today. There are 41 years between 1977 and 2018 and the average inflation rate was 4.2829%. Therefore, we can resolve the formula like this:
| Initial Value | Equivalent value | |
|---|---|---|
| $1 dollar in 1977 | → | $5.58 dollars in 2018 |
| $5 dollars in 1977 | → | $27.91 dollars in 2018 |
| $10 dollars in 1977 | → | $55.81 dollars in 2018 |
| $50 dollars in 1977 | → | $279.06 dollars in 2018 |
| $100 dollars in 1977 | → | $558.13 dollars in 2018 |
| $500 dollars in 1977 | → | $2,790.64 dollars in 2018 |
| $1,000 dollars in 1977 | → | $5,581.28 dollars in 2018 |
| $5,000 dollars in 1977 | → | $27,906.42 dollars in 2018 |
| $10,000 dollars in 1977 | → | $55,812.83 dollars in 2018 |
| $50,000 dollars in 1977 | → | $279,064.16 dollars in 2018 |
| $100,000 dollars in 1977 | → | $558,128.32 dollars in 2018 |
| $500,000 dollars in 1977 | → | $2,790,641.61 dollars in 2018 |
| $1,000,000 dollars in 1977 | → | $5,581,283.22 dollars in 2018 |
| Cumulative inflation 1977-2018 | 458.13% |
| Avg. annual inflation 1977-2018 | 4.28% |
| CPI 1977 | 18.85 |
| CPI 2018 | 105.22 |
| Period | Value |
|---|---|
| 1977 | 5 |
| 1978 | 5.4 |
| 1979 | 5.89 |
| 1980 | 6.49 |
| 1981 | 7.11 |
| 1982 | 7.91 |
| 1983 | 8.71 |
| 1984 | 9.05 |
| 1985 | 9.66 |
| 1986 | 10.54 |
| 1987 | 11.43 |
| 1988 | 12.26 |
| 1989 | 13.18 |
| 1990 | 14.15 |
| 1991 | 14.6 |
| 1992 | 14.75 |
| 1993 | 15.01 |
| 1994 | 15.3 |
| 1995 | 16.01 |
| 1996 | 16.43 |
| 1997 | 16.47 |
| 1998 | 16.61 |
| 1999 | 16.85 |
| 2000 | 17.6 |
| 2001 | 18.38 |
| 2002 | 18.93 |
| 2003 | 19.45 |
| 2004 | 19.9 |
| 2005 | 20.44 |
| 2006 | 21.16 |
| 2007 | 21.66 |
| 2008 | 22.6 |
| 2009 | 23 |
| 2010 | 23.67 |
| 2011 | 24.45 |
| 2012 | 24.88 |
| 2013 | 25.49 |
| 2014 | 26.13 |
| 2015 | 26.52 |
| 2016 | 26.86 |
| 2017 | 27.38 |
| 2018 | 27.91 |
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 |
Other currencies:
