Australian inflation rate in 2016: 1.30%

Australia Inflation Calculator

AU$

Inflation since 2016 and its effect on dollar value

The consumer price index (CPI) in 2016 was 109.1. It was 107.7 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 1.18% per year. Prices in 2018 are 2.4% higher than prices in 2016.

In other words, AU$100 in 2016 is equivalent in purchasing power to AU$102.38 in 2018, a difference of AU$2.38 over 2 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 2016 to 2018
Cumulative price change 2.38%
Average inflation rate 1.18%
Converted amount (AU$100 base) AU$102.38
Price difference (AU$100 base) AU$2.38
CPI in 2016 109.1
CPI in 2018 111.7


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$100 since 2016

This inflation calculator uses the following inflation rate formula:

CPI in 2018 / CPI in 2016 * 2016 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 109.1 in the year 2016 and 111.7 in 2018:

111.7 / 109.1 * AU$100 = AU$102.38

AU$100 in 2016 has the same "purchasing power" or "buying power" as AU$102.38 in 2018.


Here are calculations of buying power over time for AU$100 in 2016 (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
2016 AU$100.00 1.30%
2017 AU$101.92 1.92%
2018 AU$102.38 0.45%*
* Not final. See inflation summary for latest details.

News headlines from 2016

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

  • The United Kingdom votes to leave the European Union in a referendum, prompting Prime Minister David Cameron to resign.
  • Donald Trump becomes the 45th President of the United States.
  • The World Health Organisation confirms the outbreak of the Zika virus.
  • Andrei Karlov, the Russian ambassador to Turkey, is assassinated.

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 2016 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 13 Jun. 2018, https://www.officialdata.org/Australia-inflation-rate-in-2016.


» Read more about inflation.