$100 in 1979 is equivalent in purchasing power to about $493.31 today, an increase of $393.31 over 42 years. The dollar had an average inflation rate of 3.87% per year between 1979 and today, producing a cumulative price increase of 393.31%.

This means that today's prices are 4.93 times higher than average prices since 1979, according to the Bureau of Statistics consumer price index. A dollar today only buys 20.27% of what it could buy back then.

The inflation rate in 1979 was 9.13%. The current year-over-year inflation rate (2020 to 2021) is now 1.55%. If this number holds, $100 today will be equivalent in buying power to $101.55 next year.

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Cumulative price change | 393.31% |

Average inflation rate | 3.87% |

Converted amount ($100 base) | $493.31 |

Price difference ($100 base) | $393.31 |

CPI in 1979 | 23.900 |

CPI in 2021 | 117.900 |

Inflation in 1979 | 9.13% |

Inflation in 2021 | 1.55% |

$100 in 1979 | $493.31 in 2021 |

This chart shows a calculation of buying power equivalence for $100 in 1979 (price index tracking began in 1922).

For example, if you started with $100, you would need to end with $493.31 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $100 is equivalent to $493.31 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 1979 dollars, the chart below shows how $100 is worth less over 42 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 1979 amounts in today's dollars, based on the 393.31% change in prices:

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

$1 dollar in 1979 | $4.93 dollars today |

$5 dollars in 1979 | $24.67 dollars today |

$10 dollars in 1979 | $49.33 dollars today |

$50 dollars in 1979 | $246.65 dollars today |

$100 dollars in 1979 | $493.31 dollars today |

$500 dollars in 1979 | $2,466.53 dollars today |

$1,000 dollars in 1979 | $4,933.05 dollars today |

$5,000 dollars in 1979 | $24,665.27 dollars today |

$10,000 dollars in 1979 | $49,330.54 dollars today |

$50,000 dollars in 1979 | $246,652.72 dollars today |

$100,000 dollars in 1979 | $493,305.44 dollars today |

$500,000 dollars in 1979 | $2,466,527.20 dollars today |

$1,000,000 dollars in 1979 | $4,933,054.39 dollars today |

Our calculations use the following inflation rate formula to calculate the change in value between 1979 and today:

CPI today
CPI in 1979

×

1979 AUD value

=

Today's value

Then plug in historical CPI values. The Australian CPI was 23.9 in the year 1979 and 117.9 in 2021:

117.923.9

×

$100

=

$100 in 1979 has the same "purchasing power" or "buying power" as $493.31 in 2021.

To get the total inflation rate for the 42 years between 1979 and 2021, we use the following formula:

CPI in 2021 - CPI in 1979CPI in 1979

×

100

=

Plugging in the values to this equation, we get:

117.9 - 23.923.9

×

100

=

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

- Ayatollah Khomeini returns to Iran after fifteen years of exile.
- Ugandan dictator Idi Amin flees to Libya after the Tanzanian army captures Kampala, Uganda's capital.
- Margaret Thatcher becomes Prime Minister of United Kingdom, the first ever woman to hold the position.
- Afghanistan is invaded by the Soviets and overthrowing of President Hafizullah Amin.

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: “Value of 1979 Australian dollars today | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 6 Dec. 2021, https://www.officialdata.org/australia/inflation/1979.

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

in2013dollars.com is a reference website maintained by the Official Data Foundation.

Cumulative price change | 393.31% |

Average inflation rate | 3.87% |

Converted amount ($100 base) | $493.31 |

Price difference ($100 base) | $393.31 |

CPI in 1979 | 23.900 |

CPI in 2021 | 117.900 |

Inflation in 1979 | 9.13% |

Inflation in 2021 | 1.55% |

$100 in 1979 | $493.31 in 2021 |