AU$100 in 1928 → AU$2,786.21 in 2004

Australia Inflation Calculator


Australian Inflation Rate, AU$100 in 1928 to 2004

According to the Bureau of Statistics consumer price index, the dollar experienced an average inflation rate of 4.48% per year. Prices in 2004 are 2686.2% higher than prices in 1928.

In other words, AU$100 in 1928 is equivalent in purchasing power to AU$2,786.21 in 2004, a difference of AU$2,686.21 over 76 years.

The inflation rate in 2004 was 2.28%.

Inflation from 1928 to 2004
Cumulative price change 2686.21%
Average inflation rate 4.48%
Converted amount (AU$100 base) AU$2,786.21
Price difference (AU$100 base) AU$2,686.21
CPI in 1928 2.9
CPI in 2004 80.8

AUD inflation chart from 1922 to 2017

How to calculate the inflation rate for AU$100, 1928 to 2004

This inflation calculator uses the following inflation rate formula:

CPI in 2004 / CPI in 1928 * 1928 AUD value = 2004 AUD value

Then plug in historical CPI values. The Australian CPI was 2.9 in the year 1928 and 80.8 in 2004:

80.8 / 2.9 * AU$100 = AU$2,786.21

AU$100 in 1928 has the same "purchasing power" or "buying power" as AU$2,786.21 in 2004.

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 2004 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 18 Jun. 2018,

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