AU$100 in 1938 → AU$3,107.69 in 2004

Australia Inflation Calculator


Australian Inflation Rate, 1938-2004 (AU$100)

According to the Bureau of Statistics consumer price index, the dollar experienced an average inflation rate of 5.34% per year. Prices in 2004 are 3007.7% higher than prices in 1938.

In other words, AU$100 in the year 1938 is equivalent in purchasing power to AU$3,107.69 in 2004, a difference of AU$3,007.69 over 66 years.

The inflation rate in 2004 was 2.28%.

Inflation from 1938 to 2004
Cumulative price change 3007.69%
Average inflation rate 5.34%
Price difference (AU$100 base) AU$3,007.69
CPI in 1938 2.6
CPI in 2004 80.8

AUD inflation chart from 1922 to 2017

How to calculate the inflation rate for AU$100, 1938 to 2004

This inflation calculator uses the following inflation rate formula:

CPI in 2004 / CPI in 1938 * 1938 AUD value = 2004 AUD value

Then plug in historical CPI values. The Australian CPI was 2.6 in the year 1938 and 80.8 in 2004:

80.8 / 2.6 * AU$100 = AU$3,107.69

AU$100 in 1938 has the same "purchasing power" as AU$3,107.69 in 2004.

News headlines from 1938

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

  • Anthony Eden resigns as United Kingdom's Foreign Secretary after stating that Prime Minister Neville Chamberlain has appeased Nazi Germany.
  • Czechoslovakia is forced to give territory to Germany after the Treaty of Munich was signed by Hitler, Mussolini, Daladier and Chamberlain.
  • Joseph Kennedy is named the 44th US Ambassador to the United Kingdom.

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: “1938 dollars in 2004 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 21 May. 2018,

» Read more about inflation.