Value of $1 from 1935 to 2023
$1 in 1935 is equivalent in purchasing power to about $56.75 today, an increase of $55.75 over 88 years. The dollar had an average inflation rate of 4.70% per year between 1935 and today, producing a cumulative price increase of 5,574.50%.
This means that today's prices are 56.75 times as high as average prices since 1935, according to the Bureau of Statistics consumer price index. A dollar today only buys 1.762% of what it could buy back then.
The inflation rate in 1935 was 4.35%. The current inflation rate compared to last year is now 8.00%. If this number holds, $1 today will be equivalent in buying power to $1.08 next year.
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Inflation from 1935 to 2023
| Cumulative price change | 5,574.50% |
| Average inflation rate | 4.70% |
| Converted amount ($1 base) | $56.75 |
| Price difference ($1 base) | $55.75 |
| CPI in 1935 | 2.400 |
| CPI in 2023 | 136.188 |
| Inflation in 1935 | 4.35% |
| Inflation in 2023 | 8.00% |
| $1 in 1935 | $56.75 in 2023 |
AUD inflation since 1935
Annual Rate, the Bureau of Statistics CPI
Download
Buying power of $1 in 1935
This chart shows a calculation of buying power equivalence for $1 in 1935 (price index tracking began in 1922).
For example, if you started with $1, you would need to end with $56.75 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $1 is equivalent to $56.75 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 1935 dollars, the chart below shows how $1 is worth less over 88 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: 1935-2023
| 1935 | $1.00 | 4.35% |
| 1936 | $1.00 | 0.00% |
| 1937 | $1.04 | 4.17% |
| 1938 | $1.08 | 4.00% |
| 1939 | $1.08 | 0.00% |
| 1940 | $1.13 | 3.85% |
| 1941 | $1.17 | 3.70% |
| 1942 | $1.29 | 10.71% |
| 1943 | $1.33 | 3.23% |
| 1944 | $1.33 | 0.00% |
| 1945 | $1.33 | 0.00% |
| 1946 | $1.33 | 0.00% |
| 1947 | $1.42 | 6.25% |
| 1948 | $1.54 | 8.82% |
| 1949 | $1.67 | 8.11% |
| 1950 | $1.83 | 10.00% |
| 1951 | $2.17 | 18.18% |
| 1952 | $2.54 | 17.31% |
| 1953 | $2.67 | 4.92% |
| 1954 | $2.71 | 1.56% |
| 1955 | $2.75 | 1.54% |
| 1956 | $2.92 | 6.06% |
| 1957 | $3.00 | 2.86% |
| 1958 | $3.00 | 0.00% |
| 1959 | $3.08 | 2.78% |
| 1960 | $3.21 | 4.05% |
| 1961 | $3.25 | 1.30% |
| 1962 | $3.25 | 0.00% |
| 1963 | $3.29 | 1.28% |
| 1964 | $3.38 | 2.53% |
| 1965 | $3.50 | 3.70% |
| 1966 | $3.58 | 2.38% |
| 1967 | $3.71 | 3.49% |
| 1968 | $3.83 | 3.37% |
| 1969 | $3.96 | 3.26% |
| 1970 | $4.08 | 3.16% |
| 1971 | $4.33 | 6.12% |
| 1972 | $4.58 | 5.77% |
| 1973 | $5.00 | 9.09% |
| 1974 | $5.79 | 15.83% |
| 1975 | $6.67 | 15.11% |
| 1976 | $7.54 | 13.13% |
| 1977 | $8.46 | 12.15% |
| 1978 | $9.13 | 7.88% |
| 1979 | $9.96 | 9.13% |
| 1980 | $11.00 | 10.46% |
| 1981 | $12.04 | 9.47% |
| 1982 | $13.38 | 11.07% |
| 1983 | $14.75 | 10.28% |
| 1984 | $15.33 | 3.95% |
| 1985 | $16.33 | 6.52% |
| 1986 | $17.83 | 9.18% |
| 1987 | $19.33 | 8.41% |
| 1988 | $20.75 | 7.33% |
| 1989 | $22.29 | 7.43% |
| 1990 | $23.96 | 7.48% |
| 1991 | $24.71 | 3.13% |
| 1992 | $24.96 | 1.01% |
| 1993 | $25.38 | 1.67% |
| 1994 | $25.88 | 1.97% |
| 1995 | $27.08 | 4.67% |
| 1996 | $27.79 | 2.62% |
| 1997 | $27.88 | 0.30% |
| 1998 | $28.08 | 0.75% |
| 1999 | $28.50 | 1.48% |
| 2000 | $29.79 | 4.53% |
| 2001 | $31.08 | 4.34% |
| 2002 | $32.04 | 3.08% |
| 2003 | $32.92 | 2.73% |
| 2004 | $33.67 | 2.28% |
| 2005 | $34.58 | 2.72% |
| 2006 | $35.79 | 3.49% |
| 2007 | $36.63 | 2.33% |
| 2008 | $38.25 | 4.44% |
| 2009 | $38.92 | 1.74% |
| 2010 | $40.04 | 2.89% |
| 2011 | $41.38 | 3.33% |
| 2012 | $42.08 | 1.71% |
| 2013 | $43.13 | 2.48% |
| 2014 | $44.21 | 2.51% |
| 2015 | $44.88 | 1.51% |
| 2016 | $45.46 | 1.30% |
| 2017 | $46.33 | 1.92% |
| 2018 | $47.21 | 1.89% |
| 2019 | $47.96 | 1.59% |
| 2020 | $48.38 | 0.87% |
| 2021 | $49.75 | 2.84% |
| 2022 | $52.54 | 5.61% |
| 2023 | $56.75 | 8.00%* |
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 82 more rows
This conversion table shows various other 1935 amounts in today's dollars, based on the 5,574.50% change in prices:
Conversion: 1935 dollars today
| $1 dollar in 1935 | $56.75 dollars today |
| $5 dollars in 1935 | $283.73 dollars today |
| $10 dollars in 1935 | $567.45 dollars today |
| $50 dollars in 1935 | $2,837.25 dollars today |
| $100 dollars in 1935 | $5,674.50 dollars today |
| $500 dollars in 1935 | $28,372.50 dollars today |
| $1,000 dollars in 1935 | $56,745.00 dollars today |
| $5,000 dollars in 1935 | $283,725.00 dollars today |
| $10,000 dollars in 1935 | $567,450.00 dollars today |
| $50,000 dollars in 1935 | $2,837,250.00 dollars today |
| $100,000 dollars in 1935 | $5,674,500.00 dollars today |
| $500,000 dollars in 1935 | $28,372,500.00 dollars today |
| $1,000,000 dollars in 1935 | $56,745,000.00 dollars today |
How to calculate inflation rate for $1 since 1935
Our calculations use the following inflation rate formula to calculate the change in value between 1935 and today:
CPI today CPI in 1935
×
1935 AUD value
=
Today's value
Then plug in historical CPI values. The Australian CPI was 2.4 in the year 1935 and 136.18800000000002 in 2023:
136.188000000000022.4
×
$1
=
$56.75
$1 in 1935 has the same "purchasing power" or "buying power" as $56.75 in 2023.
To get the total inflation rate for the 88 years between 1935 and 2023, we use the following formula:
CPI in 2023 - CPI in 1935CPI in 1935
×
100
=
Cumulative inflation rate (88 years)
Plugging in the values to this equation, we get:
136.18800000000002 - 2.42.4
×
100
=
5,575%
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 1935 → 2023 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 30 Dec. 2022, //www.officialdata.org/australia/inflation/1935?amount=1&startYear=&future_pct=.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
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.
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