According to the Bureau of Statistics consumer price index, the dollar experienced an average inflation rate of 5.45% per year. Prices in 2004 are 2892.6% higher than prices in 1940.
In other words, AU$100 in the year 1940 is equivalent in purchasing power to AU$2,992.59 in 2004, a difference of AU$2,892.59 over 64 years.
The inflation rate in 2004 was 2.28%.
|Cumulative price change||2892.59%|
|Average inflation rate||5.45%|
|Price difference (AU$100 base)||AU$2,892.59|
|CPI in 1940||2.7|
|CPI in 2004||80.8|
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: “1940 dollars in 2004 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 19 May. 2018, https://www.officialdata.org/1940-AUD-in-2004.