$1 in 1930 is equivalent in purchasing power to about $0.93 in 1931.
The dollar had an average **deflation** rate of -7.41% per year since 1930, producing a cumulative price change of -7.41%.
Purchasing power *increased* by 7.41% in 1931 compared to 1930. On average, you would have to spend 7.41% *less* money in 1931 than in 1930 for the same item.
This is an example of **deflation**.

This means that prices in 1931 are 7.41% lower than average prices since 1930, according to the Bureau of Statistics consumer price index.

The 1930 inflation rate was -6.90%. The inflation rate in 1931 was -7.41%. The 1931 inflation rate is lower compared to the average inflation rate of 4.37% per year between 1931 and 2021.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1931 was 2.50. It was 2.70 in the previous year, 1930. The difference in CPI between the years is used by the Bureau of Statistics to officially determine inflation. Because the 1931 CPI is less than 1930 CPI, negative inflation (also known as deflation) has occurred.

⌃

Average inflation rate | -7.41% |

Converted amount ($1 base) | $0.93 |

Price difference ($1 base) | $-0.07 |

CPI in 1930 | 2.700 |

CPI in 1931 | 2.500 |

Inflation in 1930 | -6.90% |

Inflation in 1931 | -7.41% |

$1 in 1930 | $0.93 in 1931 |

Our calculations use the following inflation rate formula to calculate the change in value between 1930 and 1931:

CPI in 1931
CPI in 1930

×

1930 AUD value

=

1931 AUD value

Then plug in historical CPI values. The Australian CPI was 2.7 in the year 1930 and 2.5 in 1931:

2.52.7

×

$1

=

$1 in 1930 has the same "purchasing power" or "buying power" as $0.93 in 1931.

To get the total inflation rate for the 1 years between 1930 and 1931, we use the following formula:

CPI in 1931 - CPI in 1930CPI in 1930

×

100

=

Plugging in the values to this equation, we get:

2.5 - 2.72.7

×

100

=

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

- Mohandas Gandhi protests British salt tax by a 200-mile-long walk.
- Clyde Tombaugh discovers Pluto.
- Lawrence Hyland discovers the first radar by accident.
- Roald Amundsen's leads the first expedition to reach the South Pole.
- American explorer Hiram Bingham discovers Machu Picchu.

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: “Inflation Rate in 1931 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 19 Oct. 2021, https://www.officialdata.org/Australia-inflation-rate-in-1931.

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.

Average inflation rate | -7.41% |

Converted amount ($1 base) | $0.93 |

Price difference ($1 base) | $-0.07 |

CPI in 1930 | 2.700 |

CPI in 1931 | 2.500 |

Inflation in 1930 | -6.90% |

Inflation in 1931 | -7.41% |

$1 in 1930 | $0.93 in 1931 |