$100 in 1940 is equivalent in purchasing power to about $3,400 in 2008, an increase of $3,300.00 over 68 years. The dollar had an average inflation rate of 5.32% per year between 1940 and 2008, producing a cumulative price increase of 3,300.00%.
This means that prices in 2008 are 34.00 times as high as average prices since 1940, according to the Bureau of Statistics consumer price index.
The inflation rate in 1940 was 3.85%. The inflation rate in 2008 was 4.44%. The 2008 inflation rate is higher compared to the average inflation rate of 2.45% per year between 2008 and 2024.
Cumulative price change | 3,300.00% |
Average inflation rate | 5.32% |
Converted amount $100 base | $3,400 |
Price difference $100 base | $3,300.00 |
CPI in 1940 | 2.700 |
CPI in 2008 | 91.800 |
Inflation in 1940 | 3.85% |
Inflation in 2008 | 4.44% |
$100 in 1940 | $3,400 in 2008 |
This chart shows a calculation of buying power equivalence for $100 in 1940 (price index tracking began in 1922).
For example, if you started with $100, you would need to end with $3,400 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $100 is equivalent to $3,400 over time, that means that the "real value" of a single Australian dollar decreases over time. In other words, a dollar will pay for fewer items at the store.
This effect explains how inflation erodes the value of a dollar over time. By calculating the value in 1940 dollars, the chart below shows how $100 is worth less over 68 years.
According to the Bureau of Statistics, each of these AUD amounts below is equal in terms of what it could buy at the time:
This conversion table shows various other 1940 amounts in 2008 dollars, based on the 3,300.00% change in prices:
Initial value | Equivalent value |
---|---|
$1 dollar in 1940 | $34.00 dollars in 2008 |
$5 dollars in 1940 | $170.00 dollars in 2008 |
$10 dollars in 1940 | $340.00 dollars in 2008 |
$50 dollars in 1940 | $1,700.00 dollars in 2008 |
$100 dollars in 1940 | $3,400.00 dollars in 2008 |
$500 dollars in 1940 | $17,000.00 dollars in 2008 |
$1,000 dollars in 1940 | $34,000.00 dollars in 2008 |
$5,000 dollars in 1940 | $170,000.00 dollars in 2008 |
$10,000 dollars in 1940 | $340,000.00 dollars in 2008 |
$50,000 dollars in 1940 | $1,700,000.00 dollars in 2008 |
$100,000 dollars in 1940 | $3,400,000.00 dollars in 2008 |
$500,000 dollars in 1940 | $17,000,000.00 dollars in 2008 |
$1,000,000 dollars in 1940 | $34,000,000.00 dollars in 2008 |
Our calculations use the following inflation rate formula to calculate the change in value between 1940 and 2008:
Then plug in historical CPI values. The Australian CPI was 2.7 in the year 1940 and 91.8 in 2008:
$100 in 1940 has the same "purchasing power" or "buying power" as $3,400 in 2008.
To get the total inflation rate for the 68 years between 1940 and 2008, we use the following formula:
Plugging in the values to this equation, we get:
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: “$100 in 1940 → 2008 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 28 Apr. 2024, https://www.officialdata.org/australia/inflation/1940?amount=100&endYear=2008.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
Cumulative price change | 3,300.00% |
Average inflation rate | 5.32% |
Converted amount $100 base | $3,400 |
Price difference $100 base | $3,300.00 |
CPI in 1940 | 2.700 |
CPI in 2008 | 91.800 |
Inflation in 1940 | 3.85% |
Inflation in 2008 | 4.44% |
$100 in 1940 | $3,400 in 2008 |