Australian inflation rate in 1923: 0.00%

Australia Inflation Calculator

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Australian Inflation Rate, 1923-2018 (AU$100)

The consumer price index (CPI) in 1923 was 2.8. the Bureau of Statistics uses this CPI value to track inflation on a monthly basis.

According to the Bureau of Statistics consumer price index, the dollar experienced an average inflation rate of 3.95% per year. Prices in 2018 are 3877.5% higher than prices in 1923.

In other words, AU$100 in the year 1923 is equivalent in purchasing power to AU$3,977.47 in 2018, a difference of AU$3,877.47 over 95 years.

Compared to last year's annual rate, the inflation rate in 2018 is now 1.80%1. If this number holds, AU$100 today would be equivalent to AU$101.80 next year.

Inflation from 1923 to 2018
Cumulative price change 3877.47%
Average inflation rate 3.95%
Price difference (AU$100 base) AU$3,877.47
CPI in 1923 2.8
CPI in 2018 111.3692


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$100 since 1923

This inflation calculator uses the following inflation rate formula:

CPI in 2018 / CPI in 1923 * 1923 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 2.8 in the year 1923 and 111.3692 in 2018:

111.3692 / 2.8 * AU$100 = AU$3,977.47

AU$100 in 1923 has the same "purchasing power" as AU$3,977.47 in 2018.


News headlines from 1923

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

  • The inner burial chamber of the Pharaoh Tutankhamun's tomb is opened, leading to the finding of the sarcophagus by Howard Carter.
  • The Disney Brothers Cartoon Studio is founded.
  • Lenin's "Political Testament" is issued which calls for Stalin's removal.
  • In Germany, 5,000 storm troopers demonstrate against the 'November crime', Hitler is arrested after seeking to take advantage of the chaotic conditions.

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: “Inflation Rate in 1923 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 27 May. 2018, https://www.officialdata.org/Australia-inflation-rate-in-1923.


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