AU$100 in 1928 → AU$2,651.72 in 2002

Australia Inflation Calculator


Australian Inflation Rate, 1928-2002 (AU$100)

According to the Bureau of Statistics consumer price index, the dollar experienced an average inflation rate of 4.53% per year. Prices in 2002 are 2551.7% higher than prices in 1928.

In other words, AU$100 in the year 1928 is equivalent in purchasing power to AU$2,651.72 in 2002, a difference of AU$2,551.72 over 74 years.

The inflation rate in 2002 was 3.08%.

Inflation from 1928 to 2002
Cumulative price change 2551.72%
Average inflation rate 4.53%
Price difference (AU$100 base) AU$2,551.72
CPI in 1928 2.9
CPI in 2002 76.9

AUD inflation chart from 1922 to 2017

How to calculate the inflation rate for AU$100, 1928 to 2002

This inflation calculator uses the following inflation rate formula:

CPI in 2002 / CPI in 1928 * 1928 AUD value = 2002 AUD value

Then plug in historical CPI values. The Australian CPI was 2.9 in the year 1928 and 76.9 in 2002:

76.9 / 2.9 * AU$100 = AU$2,651.72

AU$100 in 1928 has the same "purchasing power" as AU$2,651.72 in 2002.

News headlines from 1928

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

  • Amelia Earhart becomes the first woman to fly across the Atlantic Ocean.
  • Jawaharlal Nehru requests Indian independence.
  • Alexander Fleming, a Scottish bacteriologist, accidentally discovers penicillin while studying influenza.

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: “1928 dollars in 2002 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 28 May. 2018,

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