$1 in 1950 is equivalent in purchasing power to about $1.45 in 1953, an increase of $0.45 over 3 years. The dollar had an average inflation rate of 13.30% per year between 1950 and 1953, producing a cumulative price increase of 45.45%.

This means that prices in 1953 are 1.45 times higher than average prices since 1950, according to the Bureau of Statistics consumer price index.

The 1950 inflation rate was 10.00%. The inflation rate in 1953 was 4.92%. The 1953 inflation rate is higher compared to the average inflation rate of 4.38% per year between 1953 and 2021.

⌃

Cumulative price change | 45.45% |

Average inflation rate | 13.30% |

Converted amount ($1 base) | $1.45 |

Price difference ($1 base) | $0.45 |

CPI in 1950 | 4.400 |

CPI in 1953 | 6.400 |

Inflation in 1950 | 10.00% |

Inflation in 1953 | 4.92% |

$1 in 1950 | $1.45 in 1953 |

This chart shows a calculation of buying power equivalence for $1 in 1950 (price index tracking began in 1922).

For example, if you started with $1, you would need to end with $1.45 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $1 is equivalent to $1.45 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 1950 dollars, the chart below shows how $1 is worth less over 3 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 1950 amounts in 1953 dollars, based on the 45.45% change in prices:

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

$1 dollar in 1950 | $1.45 dollars in 1953 |

$5 dollars in 1950 | $7.27 dollars in 1953 |

$10 dollars in 1950 | $14.55 dollars in 1953 |

$50 dollars in 1950 | $72.73 dollars in 1953 |

$100 dollars in 1950 | $145.45 dollars in 1953 |

$500 dollars in 1950 | $727.27 dollars in 1953 |

$1,000 dollars in 1950 | $1,454.55 dollars in 1953 |

$5,000 dollars in 1950 | $7,272.73 dollars in 1953 |

$10,000 dollars in 1950 | $14,545.45 dollars in 1953 |

$50,000 dollars in 1950 | $72,727.27 dollars in 1953 |

$100,000 dollars in 1950 | $145,454.55 dollars in 1953 |

$500,000 dollars in 1950 | $727,272.73 dollars in 1953 |

$1,000,000 dollars in 1950 | $1,454,545.45 dollars in 1953 |

Our calculations use the following inflation rate formula to calculate the change in value between 1950 and 1953:

CPI in 1953
CPI in 1950

×

1950 AUD value

=

1953 AUD value

Then plug in historical CPI values. The Australian CPI was 4.4 in the year 1950 and 6.4 in 1953:

6.44.4

×

$1

=

$1 in 1950 has the same "purchasing power" or "buying power" as $1.45 in 1953.

To get the total inflation rate for the 3 years between 1950 and 1953, we use the following formula:

CPI in 1953 - CPI in 1950CPI in 1950

×

100

=

Plugging in the values to this equation, we get:

6.4 - 4.44.4

×

100

=

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

- Jerusalem is proclaimed the capital of Israel by Knesset
- North Korea invades South Korea.
- Harry Truman announces that America will seek to develop a hydrogen bomb.
- Chinese forces occupy Tibet.

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 1950 → 1953 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 15 Oct. 2021, https://www.officialdata.org/australia/inflation/1950?amount=1&endYear=1953.

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 | 45.45% |

Average inflation rate | 13.30% |

Converted amount ($1 base) | $1.45 |

Price difference ($1 base) | $0.45 |

CPI in 1950 | 4.400 |

CPI in 1953 | 6.400 |

Inflation in 1950 | 10.00% |

Inflation in 1953 | 4.92% |

$1 in 1950 | $1.45 in 1953 |