According to the Bureau of Statistics consumer price index, prices in 2018 are 19.59% higher than prices in 2009. The dollar experienced an average inflation rate of 2.95% per year during this period.
In other words, AU$40,000 in 2009 is equivalent in purchasing power to AU$47,837.26 in 2018, a difference of AU$7,837.26 over 9 years.
The 2009 inflation rate was 1.74%. The current inflation rate (2017 to 2018) is now 0.45%1. If this number holds, AU$40,000 today will be equivalent to AU$40,179.86 next year.
|Cumulative price change||19.59%|
|Average inflation rate||2.95%|
|Converted amount (AU$40,000 base)||AU$47,837.26|
|Price difference (AU$40,000 base)||AU$7,837.26|
|CPI in 2009||93.4|
|CPI in 2018||111.7|
|Inflation in 2009||1.74%|
|Inflation in 2018||0.45%|
This chart shows calculations of buying power equivalence over time for AU$40,000 in 2009 (price index tracking began in 1922).
According to the Bureau of Statistics, each of these AUD amounts below is equal in terms of what it could buy at the time:
|Year||AUD Value||Inflation Rate|
This inflation calculator uses the following inflation rate formula:
Then plug in historical CPI values. The Australian CPI was 93.4 in the year 2009 and 111.7 in 2018:
AU$40,000 in 2009 has the same "purchasing power" or "buying power" as AU$47,837.26 in 2018.
To get the total inflation rate for the 9 years between 2009 and 2018, we use the following formula:
Plugging in the values to this equation, we get:
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: “AU$40,000 in 2009 → 2018 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 13 Aug. 2018, https://www.officialdata.org/2009-AUD-in-2018?amount=40000.