According to the Bureau of Statistics consumer price index, today's prices in 2019 are 60.47% higher than average prices throughout 2000. The dollar experienced an average inflation rate of 2.52% per year during this period, meaning the real value of a dollar decreased.
In other words, AU$100 in 2000 is equivalent in purchasing power to about AU$160.47 in 2019, a difference of AU$60.47 over 19 years.
The 2000 inflation rate was 4.53%. The current inflation rate (2018 to 2019) is now 1.90%1. If this number holds, AU$100 today will be equivalent in buying power to AU$101.90 next year.
|Cumulative price change||60.47%|
|Average inflation rate||2.52%|
|Converted amount (AU$100 base)||AU$160.47|
|Price difference (AU$100 base)||AU$60.47|
|CPI in 2000||71.500|
|CPI in 2019||114.739|
|Inflation in 2000||4.53%|
|Inflation in 2019||1.90%|
This chart shows calculation of buying power equivalence, often referred to as "the value of a dollar" over time for AU$100 in 2000 (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||Dollar Value||Inflation Rate|
This inflation calculator uses the following inflation rate formula:
Then plug in historical CPI values. The Australian CPI was 71.5 in the year 2000 and 114.73939999999999 in 2019:
AU$100 in 2000 has the same "purchasing power" or "buying power" as AU$160.47 in 2019.
To get the total inflation rate for the 19 years between 2000 and 2019, 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: “2000 dollars in 2019 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 22 Apr. 2019, https://www.officialdata.org/Australia-inflation.
Special thanks to QuickChart for providing downloadable chart images.