AU$100 in 1924 → AU$2,746.43 in 2002

Australia Inflation Calculator

AU$

Australian Inflation Rate, AU$100 in 1924 to 2002

According to the Bureau of Statistics consumer price index, the dollar experienced an average inflation rate of 4.34% per year. Prices in 2002 are 2646.4% higher than prices in 1924.

In other words, AU$100 in 1924 is equivalent in purchasing power to AU$2,746.43 in 2002, a difference of AU$2,646.43 over 78 years.

The inflation rate in 2002 was 3.08%.

Inflation from 1924 to 2002
Cumulative price change 2646.43%
Average inflation rate 4.34%
Converted amount (AU$100 base) AU$2,746.43
Price difference (AU$100 base) AU$2,646.43
CPI in 1924 2.8
CPI in 2002 76.9


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$100, 1924 to 2002

This inflation calculator uses the following inflation rate formula:

CPI in 2002 / CPI in 1924 * 1924 AUD value = 2002 AUD value

Then plug in historical CPI values. The Australian CPI was 2.8 in the year 1924 and 76.9 in 2002:

76.9 / 2.8 * AU$100 = AU$2,746.43

AU$100 in 1924 has the same "purchasing power" or "buying power" as AU$2,746.43 in 2002.


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: “1924 dollars in 2002 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 19 Jun. 2018, https://www.officialdata.org/1924-AUD-in-2002.


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