View $1 in 2010 → 2024
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Value of $1 from 2010 to 2021
$1 in 2010 is equivalent in purchasing power to about $1.24 in 2021, an increase of $0.24 over 11 years. The dollar had an average inflation rate of 1.99% per year between 2010 and 2021, producing a cumulative price increase of 24.25%.
This means that prices in 2021 are 1.24 times as high as average prices since 2010, according to the Bureau of Statistics consumer price index.
The inflation rate in 2010 was 2.89%. The inflation rate in 2021 was 2.84%. The 2021 inflation rate is lower compared to the average inflation rate of 4.26% per year between 2021 and 2024.
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| Cumulative price change | 24.25% |
| Average inflation rate | 1.99% |
| Converted amount $1 base | $1.24 |
| Price difference $1 base | $0.24 |
| CPI in 2010 | 96.100 |
| CPI in 2021 | 119.400 |
| Inflation in 2010 | 2.89% |
| Inflation in 2021 | 2.84% |
| $1 in 2010 | $1.24 in 2021 |
Buying power of $1 in 2010
This chart shows a calculation of buying power equivalence for $1 in 2010 (price index tracking began in 1922).
For example, if you started with $1, you would need to end with $1.24 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $1 is equivalent to $1.24 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 2010 dollars, the chart below shows how $1 is worth less over 11 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 2010 amounts in 2021 dollars, based on the 24.25% change in prices:
| Initial value | Equivalent value |
|---|---|
| $1 dollar in 2010 | $1.24 dollars in 2021 |
| $5 dollars in 2010 | $6.21 dollars in 2021 |
| $10 dollars in 2010 | $12.42 dollars in 2021 |
| $50 dollars in 2010 | $62.12 dollars in 2021 |
| $100 dollars in 2010 | $124.25 dollars in 2021 |
| $500 dollars in 2010 | $621.23 dollars in 2021 |
| $1,000 dollars in 2010 | $1,242.46 dollars in 2021 |
| $5,000 dollars in 2010 | $6,212.28 dollars in 2021 |
| $10,000 dollars in 2010 | $12,424.56 dollars in 2021 |
| $50,000 dollars in 2010 | $62,122.79 dollars in 2021 |
| $100,000 dollars in 2010 | $124,245.58 dollars in 2021 |
| $500,000 dollars in 2010 | $621,227.89 dollars in 2021 |
| $1,000,000 dollars in 2010 | $1,242,455.78 dollars in 2021 |
How to calculate inflation rate for $1, 2010 to 2021
Our calculations use the following inflation rate formula to calculate the change in value between 2010 and 2021:
CPI in 2021 CPI in 2010
×
2010 AUD value
=
2021 AUD value
Then plug in historical CPI values. The Australian CPI was 96.1 in the year 2010 and 119.4 in 2021:
119.496.1
×
$1
=
$1.24
$1 in 2010 has the same "purchasing power" or "buying power" as $1.24 in 2021.
To get the total inflation rate for the 11 years between 2010 and 2021, we use the following formula:
CPI in 2021 - CPI in 2010CPI in 2010
×
100
=
Cumulative inflation rate (11 years)
Plugging in the values to this equation, we get:
119.4 - 96.196.1
×
100
=
24%
Data source & citation
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: “$1 in 2010 → 2021 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 25 Apr. 2024, https://www.officialdata.org/australia/inflation/2010?amount=1&endYear=2021.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
| Cumulative price change | 24.25% |
| Average inflation rate | 1.99% |
| Converted amount $1 base | $1.24 |
| Price difference $1 base | $0.24 |
| CPI in 2010 | 96.100 |
| CPI in 2021 | 119.400 |
| Inflation in 2010 | 2.89% |
| Inflation in 2021 | 2.84% |
| $1 in 2010 | $1.24 in 2021 |