$1 in 2015 is worth $1.09 today

$

Value of $1 from 2015 to 2020

According to the Bureau of Statistics consumer price index, today's prices in 2020 are 8.56% higher than average prices since 2015. The Australian dollar experienced an average inflation rate of 1.66% per year during this period, causing the real value of a dollar to decrease.

In other words, $1 in 2015 is equivalent in purchasing power to about $1.09 in 2020, a difference of $0.09 over 5 years.

The 2015 inflation rate was 1.51%. The current year-over-year inflation rate (2019 to 2020) is now 1.90%1. If this number holds, $1 today will be equivalent in buying power to $1.02 next year.


Inflation from 2015 to 2020
Cumulative price change 8.56%
Average inflation rate 1.66%
Converted amount ($1 base) $1.09
Price difference ($1 base) $0.09
CPI in 2015 107.700
CPI in 2020 116.919
Inflation in 2015 1.51%
Inflation in 2020 1.90%

AUD Inflation since 1922
Annual Rate, the Bureau of Statistics CPI
Download

Buying power of $1 in 2015

This chart shows a calculation of buying power equivalence for $1 in 2015 (price index tracking began in 1922).

For example, if you started with $1, you would need to end with $1.09 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $1 is equivalent to $1.09 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 2015 dollars, the chart below shows how $1 is worth less over 5 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:

Dollar inflation: 2015-2020
Year Dollar Value Inflation Rate
2015 $1.00 1.51%
2016 $1.01 1.30%
2017 $1.03 1.92%
2018 $1.05 1.26%
2019 $1.07 1.90%
2020 $1.09 1.90%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 2015 amounts in today's dollars, based on the 8.56% change in prices:

Conversion Table: Value of a dollar today
Initial value Equivalent value
$1 dollar in 2015 $1.09 dollars today
$5 dollars in 2015 $5.43 dollars today
$10 dollars in 2015 $10.86 dollars today
$50 dollars in 2015 $54.28 dollars today
$100 dollars in 2015 $108.56 dollars today
$500 dollars in 2015 $542.80 dollars today
$1,000 dollars in 2015 $1,085.60 dollars today
$5,000 dollars in 2015 $5,428.02 dollars today
$10,000 dollars in 2015 $10,856.03 dollars today
$50,000 dollars in 2015 $54,280.15 dollars today
$100,000 dollars in 2015 $108,560.31 dollars today
$500,000 dollars in 2015 $542,801.53 dollars today
$1,000,000 dollars in 2015 $1,085,603.05 dollars today

How to Calculate Inflation Rate for $1 since 2015

Our calculations use the following inflation rate formula to calculate the change in value between 2015 and today:

CPI today CPI in 2015
×
2015 AUD value
=
Today's value

Then plug in historical CPI values. The Australian CPI was 107.7 in the year 2015 and 116.91944859999998 in 2020:

116.91944859999998107.7
×
$1
=
$1.09

$1 in 2015 has the same "purchasing power" or "buying power" as $1.09 in 2020.

To get the total inflation rate for the 5 years between 2015 and 2020, we use the following formula:

CPI in 2020 - CPI in 2015CPI in 2015
×
100
=
Cumulative inflation rate (5 years)

Plugging in the values to this equation, we get:

116.91944859999998 - 107.7107.7
×
100
=
9%

News headlines from 2015

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

  • Barack Obama and Raul Castro, hold the first meeting between Cuban and American leaders since the Cuban Revolution.
  • The population of India reaches 1 billion (officially). The billionth baby was named Astha Arora.
  • Donald Trump announces his intention to join the US presidential campaign.
  • China brings an end to its one child policy, 35 years after it was first introduced.

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 2015 → 2020 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 25 May. 2020, https://www.officialdata.org/australia/inflation/2015?amount=1&endYear=2020.

Special thanks to QuickChart for providing downloadable chart images.


Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

Email · LinkedIn · Twitter


» Read more about inflation and investment.

Inflation from 2015 to 2020
Cumulative price change 8.56%
Average inflation rate 1.66%
Converted amount ($1 base) $1.09
Price difference ($1 base) $0.09
CPI in 2015 107.700
CPI in 2020 116.919
Inflation in 2015 1.51%
Inflation in 2020 1.90%