The consumer price index (CPI) in 1994 was 62.1. It was 60.9 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 2.48% per year. Prices in 2018 are 79.9% higher than prices in 1994.
In other words, AU$100 in 1994 is equivalent in purchasing power to AU$179.87 in 2018, a difference of AU$79.87 over 24 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||79.87%|
|Average inflation rate||2.48%|
|Converted amount (AU$100 base)||AU$179.87|
|Price difference (AU$100 base)||AU$79.87|
|CPI in 1994||62.1|
|CPI in 2018||111.7|
|Year||AUD Value||Inflation Rate|
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: “Inflation Rate in 1994 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 17 Jun. 2018, https://www.officialdata.org/Australia-inflation-rate-in-1994.