The consumer price index (CPI) in 1973 was 12. It was 11 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 5.08% per year. Prices in 2018 are 830.8% higher than prices in 1973.

In other words, AU$100 in 1973 is equivalent in purchasing power to AU$930.83 in 2018, a difference of AU$830.83 over 45 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.

Cumulative price change | 830.83% |

Average inflation rate | 5.08% |

Converted amount (AU$100 base) | AU$930.83 |

Price difference (AU$100 base) | AU$830.83 |

CPI in 1973 | 12 |

CPI in 2018 | 111.7 |

CPI in 2018 / CPI in 1973 * 1973 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 12 in the year 1973 and 111.7 in 2018:

111.7 / 12 * AU$100 =

AU$100 in 1973 has the same "purchasing power" or "buying power" as AU$930.83 in 2018.

Here are calculations of buying power over time for AU$100 in 1973 (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 |
---|---|---|

1973 | AU$100.00 | 9.09% |

1974 | AU$115.83 | 15.83% |

1975 | AU$133.33 | 15.11% |

1976 | AU$150.83 | 13.13% |

1977 | AU$169.17 | 12.15% |

1978 | AU$182.50 | 7.88% |

1979 | AU$199.17 | 9.13% |

1980 | AU$220.00 | 10.46% |

1981 | AU$240.83 | 9.47% |

1982 | AU$267.50 | 11.07% |

1983 | AU$295.00 | 10.28% |

1984 | AU$306.67 | 3.95% |

1985 | AU$326.67 | 6.52% |

1986 | AU$356.67 | 9.18% |

1987 | AU$386.67 | 8.41% |

1988 | AU$415.00 | 7.33% |

1989 | AU$445.83 | 7.43% |

1990 | AU$479.17 | 7.48% |

1991 | AU$494.17 | 3.13% |

1992 | AU$499.17 | 1.01% |

1993 | AU$507.50 | 1.67% |

1994 | AU$517.50 | 1.97% |

1995 | AU$541.67 | 4.67% |

1996 | AU$555.83 | 2.62% |

1997 | AU$557.50 | 0.30% |

1998 | AU$561.67 | 0.75% |

1999 | AU$570.00 | 1.48% |

2000 | AU$595.83 | 4.53% |

2001 | AU$621.67 | 4.34% |

2002 | AU$640.83 | 3.08% |

2003 | AU$658.33 | 2.73% |

2004 | AU$673.33 | 2.28% |

2005 | AU$691.67 | 2.72% |

2006 | AU$715.83 | 3.49% |

2007 | AU$732.50 | 2.33% |

2008 | AU$765.00 | 4.44% |

2009 | AU$778.33 | 1.74% |

2010 | AU$800.83 | 2.89% |

2011 | AU$827.50 | 3.33% |

2012 | AU$841.67 | 1.71% |

2013 | AU$862.50 | 2.48% |

2014 | AU$884.17 | 2.51% |

2015 | AU$897.50 | 1.51% |

2016 | AU$909.17 | 1.30% |

2017 | AU$926.67 | 1.92% |

2018 | AU$930.83 | 0.45%* |

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

- President Richard Nixon announces the end of the Vietnam War.
- The longest war in American history finishes after William Rogers and Nguyen Duy Trinh of US and North Vietnam's army sign a cease-fire.
- The IRA attacks London for the first time following the arrests of 10 of its members.
- The Senate Watergate Committee begins its hearings.

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 1973 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 15 Jun. 2018, https://www.officialdata.org/Australia-inflation-rate-in-1973.