Value of $274 from 1994 to 2018

According to the Bureau of Statistics consumer price index, prices in 2018 are 81.32% higher than average prices since 1994. The Australian dollar experienced an average inflation rate of 2.51% per year during this period, causing the real value of a dollar to decrease.

In other words, $274 in 1994 is equivalent in purchasing power to about $496.82 in 2018, a difference of $222.82 over 24 years.

The 1994 inflation rate was 1.97%. The inflation rate in 2018 was 1.26%. The 2018 inflation rate is lower compared to the average inflation rate of 1.90% per year between 2018 and 2020.

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Inflation from 1994 to 2018 Cumulative price change 81.32% Average inflation rate 2.51% Converted amount ($274 base) $496.82 Price difference ($274 base) $222.82 CPI in 1994 62.100 CPI in 2018 112.600 Inflation in 1994 1.97% Inflation in 2018 1.26%

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

Buying power of $274 in 1994 This chart shows a calculation of buying power equivalence for $274 in 1994 (price index tracking began in 1922). For example, if you started with $274, you would need to end with $496.82 in order to "adjust" for inflation (sometimes refered to as "beating inflation"). Download When $274 is equivalent to $496.82 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 1994 dollars, the chart below shows how $274 is worth less over 24 years. Download 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: 1994-2018 Year Dollar Value Inflation Rate 1994 $274.00 1.97% 1995 $286.80 4.67% 1996 $294.30 2.62% 1997 $295.18 0.30% 1998 $297.38 0.75% 1999 $301.80 1.48% 2000 $315.48 4.53% 2001 $329.15 4.34% 2002 $339.30 3.08% 2003 $348.57 2.73% 2004 $356.51 2.28% 2005 $366.22 2.72% 2006 $379.01 3.49% 2007 $387.84 2.33% 2008 $405.04 4.44% 2009 $412.10 1.74% 2010 $424.02 2.89% 2011 $438.14 3.33% 2012 $445.64 1.71% 2013 $456.67 2.48% 2014 $468.14 2.51% 2015 $475.20 1.51% 2016 $481.38 1.30% 2017 $490.64 1.92% 2018 $496.82 1.26% 2019 $506.26 1.90% 2020 $515.88 1.90%* * Compared to previous annual rate. Not final. See * Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value. Click to show 18 more rows Download as CSV/Excel This conversion table shows various other 1994 amounts in 2018 dollars, based on the 81.32% change in prices: Conversion Table: Value of a dollar in 2018 Initial value Equivalent value $1 dollar in 1994 $1.81 dollars in 2018 $5 dollars in 1994 $9.07 dollars in 2018 $10 dollars in 1994 $18.13 dollars in 2018 $50 dollars in 1994 $90.66 dollars in 2018 $100 dollars in 1994 $181.32 dollars in 2018 $500 dollars in 1994 $906.60 dollars in 2018 $1,000 dollars in 1994 $1,813.20 dollars in 2018 $5,000 dollars in 1994 $9,066.02 dollars in 2018 $10,000 dollars in 1994 $18,132.05 dollars in 2018 $50,000 dollars in 1994 $90,660.23 dollars in 2018 $100,000 dollars in 1994 $181,320.45 dollars in 2018 $500,000 dollars in 1994 $906,602.25 dollars in 2018 $1,000,000 dollars in 1994 $1,813,204.51 dollars in 2018

How to Calculate Inflation Rate for $274, 1994 to 2018 Our calculations use the following inflation rate formula to calculate the change in value between 1994 and 2018: CPI in 2018 CPI in 1994 × 1994 AUD value = 2018 AUD value Then plug in historical CPI values. The Australian CPI was 62.1 in the year 1994 and 112.6 in 2018: 112.6 62.1 × $274 = $496.82 $274 in 1994 has the same "purchasing power" or "buying power" as $496.82 in 2018. To get the total inflation rate for the 24 years between 1994 and 2018, we use the following formula: CPI in 2018 - CPI in 1994 CPI in 1994 × 100 = Cumulative inflation rate (24 years) Plugging in the values to this equation, we get: 112.6 - 62.1 62.1 × 100 = 81%

News headlines from 1994 Politics and news often influence economic performance. Here's what was happening at the time: The Rwandan Genocide begins as an aircraft is shot down while carrying Rwandan and Burundian presidents, Juvenal Habyarimana and Cyprien Ntaryamira.

Nelson Mandela becomes South Africa's first black president.

The IRA declares a ceasefire.

Guantanamo Naval Base is re-opened for refugee processing.

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: “$274 in 1994 → 2018 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 23 Sep. 2020, https://www.officialdata.org/1994-AUD-in-2018?amount=274.

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