Australian inflation rate in 1962: 0.00%

Australia Inflation Calculator

AU$

Inflation since 1962 and its effect on dollar value

The consumer price index (CPI) in 1962 was 7.8. It was 7.8 in the previous year. This change in CPI is used by the Bureau of Statistics to calculate inflation.

According to the Bureau of Statistics consumer price index, the dollar experienced an average inflation rate of 4.87% per year. Prices in 2018 are 1332.1% higher than prices in 1962.

In other words, AU$100 in 1962 is equivalent in purchasing power to AU$1,432.05 in 2018, a difference of AU$1,332.05 over 56 years.

The current inflation rate is now 0.45%1. If this number holds, AU$100 today will be equivalent to AU$100.45 next year.

Inflation from 1962 to 2018
Cumulative price change 1332.05%
Average inflation rate 4.87%
Converted amount (AU$100 base) AU$1,432.05
Price difference (AU$100 base) AU$1,332.05
CPI in 1962 7.8
CPI in 2018 111.7


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$100 since 1962

This inflation calculator uses the following inflation rate formula:

CPI in 2018 / CPI in 1962 * 1962 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 7.8 in the year 1962 and 111.7 in 2018:

111.7 / 7.8 * AU$100 = AU$1,432.05

AU$100 in 1962 has the same "purchasing power" or "buying power" as AU$1,432.05 in 2018.


Buying power of AU$100 since 1962

Below are calculations of buying power over time for AU$100 in 1962 (price index tracking began in 1922). Each of these AUD amounts below is equivalent in terms of what it could buy at the time:

Year AUD Value Inflation Rate
1962 AU$100.00 -
1963 AU$101.28 1.28%
1964 AU$103.85 2.53%
1965 AU$107.69 3.70%
1966 AU$110.26 2.38%
1967 AU$114.10 3.49%
1968 AU$117.95 3.37%
1969 AU$121.79 3.26%
1970 AU$125.64 3.16%
1971 AU$133.33 6.12%
1972 AU$141.03 5.77%
1973 AU$153.85 9.09%
1974 AU$178.21 15.83%
1975 AU$205.13 15.11%
1976 AU$232.05 13.13%
1977 AU$260.26 12.15%
1978 AU$280.77 7.88%
1979 AU$306.41 9.13%
1980 AU$338.46 10.46%
1981 AU$370.51 9.47%
1982 AU$411.54 11.07%
1983 AU$453.85 10.28%
1984 AU$471.79 3.95%
1985 AU$502.56 6.52%
1986 AU$548.72 9.18%
1987 AU$594.87 8.41%
1988 AU$638.46 7.33%
1989 AU$685.90 7.43%
1990 AU$737.18 7.48%
1991 AU$760.26 3.13%
1992 AU$767.95 1.01%
1993 AU$780.77 1.67%
1994 AU$796.15 1.97%
1995 AU$833.33 4.67%
1996 AU$855.13 2.62%
1997 AU$857.69 0.30%
1998 AU$864.10 0.75%
1999 AU$876.92 1.48%
2000 AU$916.67 4.53%
2001 AU$956.41 4.34%
2002 AU$985.90 3.08%
2003 AU$1,012.82 2.73%
2004 AU$1,035.90 2.28%
2005 AU$1,064.10 2.72%
2006 AU$1,101.28 3.49%
2007 AU$1,126.92 2.33%
2008 AU$1,176.92 4.44%
2009 AU$1,197.44 1.74%
2010 AU$1,232.05 2.89%
2011 AU$1,273.08 3.33%
2012 AU$1,294.87 1.71%
2013 AU$1,326.92 2.48%
2014 AU$1,360.26 2.51%
2015 AU$1,380.77 1.51%
2016 AU$1,398.72 1.30%
2017 AU$1,425.64 1.92%
2018 AU$1,432.05 0.45%*
* Not final. See inflation summary for latest details.

News headlines from 1962

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

  • The second Vatican Council is convened by Pope John XXIII.
  • The American President, Kennedy, orders the naval blockade of Cuba marking the beginning of the missile crisis.
  • The Cuban missile crisis also known as Black Saturday begins.

Data Source & Citation

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 1962 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 Jun. 2018, https://www.officialdata.org/Australia-inflation-rate-in-1962.


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