AU$100 in 1923 → AU$3,278.57 in 2008

Australia Inflation Calculator

AU$

Australian Inflation Rate, AU$100 in 1923 to 2008

According to the Bureau of Statistics consumer price index, the dollar experienced an average inflation rate of 4.19% per year. Prices in 2008 are 3178.6% higher than prices in 1923.

In other words, AU$100 in 1923 is equivalent in purchasing power to AU$3,278.57 in 2008, a difference of AU$3,178.57 over 85 years.

The inflation rate in 2008 was 4.44%.

Inflation from 1923 to 2008
Cumulative price change 3178.57%
Average inflation rate 4.19%
Converted amount (AU$100 base) AU$3,278.57
Price difference (AU$100 base) AU$3,178.57
CPI in 1923 2.8
CPI in 2008 91.8


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$100, 1923 to 2008

This inflation calculator uses the following inflation rate formula:

CPI in 2008 / CPI in 1923 * 1923 AUD value = 2008 AUD value

Then plug in historical CPI values. The Australian CPI was 2.8 in the year 1923 and 91.8 in 2008:

91.8 / 2.8 * AU$100 = AU$3,278.57

AU$100 in 1923 has the same "purchasing power" or "buying power" as AU$3,278.57 in 2008.


News headlines from 1923

Politics and news often influence economic performance. Here's what was happening at the time:

  • The inner burial chamber of the Pharaoh Tutankhamun's tomb is opened, leading to the finding of the sarcophagus by Howard Carter.
  • The Disney Brothers Cartoon Studio is founded.
  • Lenin's "Political Testament" is issued which calls for Stalin's removal.
  • In Germany, 5,000 storm troopers demonstrate against the 'November crime', Hitler is arrested after seeking to take advantage of the chaotic conditions.

Inflation Data Source

Raw data for these calculations comes from the government of Australia's annual (CPI) as provided by the Reserve Bank of Australia. The consumer price index was established in 1922 and is tracked by Australian Bureau of Statistics (ABS).

You may use the following MLA citation for this page: “1923 dollars in 2008 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 20 Jun. 2018, https://www.officialdata.org/1923-AUD-in-2008.


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