According to the Bureau of Statistics consumer price index, the dollar experienced an average inflation rate of 5.83% per year. Prices in 1997 are 2289.3% higher than prices in 1941.
In other words, AU$100 in 1941 is equivalent in purchasing power to AU$2,389.29 in 1997, a difference of AU$2,289.29 over 56 years.
The inflation rate in 1997 was 0.30%.
|Cumulative price change||2289.29%|
|Average inflation rate||5.83%|
|Converted amount (AU$100 base)||AU$2,389.29|
|Price difference (AU$100 base)||AU$2,289.29|
|CPI in 1941||2.8|
|CPI in 1997||66.9|
This inflation calculator uses the following inflation rate formula:
CPI in 1997 / CPI in 1941 * 1941 AUD value = 1997 AUD value
Then plug in historical CPI values. The Australian CPI was 2.8 in the year 1941 and 66.9 in 1997:
66.9 / 2.8 * AU$100 = AU$2,389.29
AU$100 in 1941 has the same "purchasing power" or "buying power" as AU$2,389.29 in 1997.
Politics and news often influence economic performance. Here's what was happening at the time:
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: “1941 dollars in 1997 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 24 Jun. 2018, https://www.officialdata.org/1941-AUD-in-1997.