👉 You may be interested in $10,000 in 2006 → **2024**

$10,000 in 2006 is equivalent in purchasing power to about $15,587.89 in 2023, an increase of $5,587.89 over 17 years. The dollar had an average inflation rate of 2.65% per year between 2006 and 2023, producing a cumulative price increase of 55.88%.

This means that prices in 2023 are 1.56 times as high as average prices since 2006, according to the Bureau of Statistics consumer price index.

The inflation rate in 2006 was 3.49%. The inflation rate in 2023 was 5.18%. The 2023 inflation rate is higher compared to the average inflation rate of 1.05% per year between 2023 and 2024.

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Cumulative price change | 55.88% |

Average inflation rate | 2.65% |

Converted amount $10,000 base | $15,587.89 |

Price difference $10,000 base | $5,587.89 |

CPI in 2006 | 85.900 |

CPI in 2023 | 133.900 |

Inflation in 2006 | 3.49% |

Inflation in 2023 | 5.18% |

$10,000 in 2006 | $15,587.89 in 2023 |

This chart shows a calculation of buying power equivalence for $10,000 in 2006 (price index tracking began in 1922).

For example, if you started with $10,000, you would need to end with $15,587.89 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $10,000 is equivalent to $15,587.89 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 2006 dollars, the chart below shows how $10,000 is worth less over 17 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 2006 amounts in 2023 dollars, based on the 55.88% change in prices:

Initial value | Equivalent value |
---|---|

$1 dollar in 2006 | $1.56 dollars in 2023 |

$5 dollars in 2006 | $7.79 dollars in 2023 |

$10 dollars in 2006 | $15.59 dollars in 2023 |

$50 dollars in 2006 | $77.94 dollars in 2023 |

$100 dollars in 2006 | $155.88 dollars in 2023 |

$500 dollars in 2006 | $779.39 dollars in 2023 |

$1,000 dollars in 2006 | $1,558.79 dollars in 2023 |

$5,000 dollars in 2006 | $7,793.95 dollars in 2023 |

$10,000 dollars in 2006 | $15,587.89 dollars in 2023 |

$50,000 dollars in 2006 | $77,939.46 dollars in 2023 |

$100,000 dollars in 2006 | $155,878.93 dollars in 2023 |

$500,000 dollars in 2006 | $779,394.64 dollars in 2023 |

$1,000,000 dollars in 2006 | $1,558,789.29 dollars in 2023 |

Our calculations use the following inflation rate formula to calculate the change in value between 2006 and 2023:

CPI in 2023 CPI in 2006

×

2006 AUD value

=

2023 AUD value

Then plug in historical CPI values. The Australian CPI was 85.9 in the year 2006 and 133.9 in 2023:

133.985.9

×

$10,000

=

$10,000 in 2006 has the same "purchasing power" or "buying power" as $15,587.89 in 2023.

To get the total inflation rate for the 17 years between 2006 and 2023, we use the following formula:

CPI in 2023 - CPI in 2006CPI in 2006

×

100

=

Plugging in the values to this equation, we get:

133.9 - 85.985.9

×

100

=

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: “$10,000 in 2006 → 2023 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 19 Apr. 2024, https://www.officialdata.org/australia/inflation/2006?endYear=2023&amount=10000.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.

Cumulative price change | 55.88% |

Average inflation rate | 2.65% |

Converted amount $10,000 base | $15,587.89 |

Price difference $10,000 base | $5,587.89 |

CPI in 2006 | 85.900 |

CPI in 2023 | 133.900 |

Inflation in 2006 | 3.49% |

Inflation in 2023 | 5.18% |

$10,000 in 2006 | $15,587.89 in 2023 |