The Impact of Inflation on value of $30 from 1954 to 2024
In 1913 the price of $30 is approximately equal to $634.15 in 2024. Prices changed by 4.47% (or $8.63) per year on average during that period. It means that every purchase will cost you 21.14 times as much.
Inflation is a powerful force that can erode the purchasing power of money over time. For anyone curious about the value of $30 in 1954 and what it would be worth in 2024, this page provides a detailed analysis using the cumulative price change, average inflation rate, and other key financial indicators.
How Much is $30 in 1954 Worth Today?
- Converted Amount: The $30 from 1954, adjusted for inflation, would be equivalent to $634.15 in 2024.
- Cumulative Price Change: Over this period, the cumulative price change has been 2013.85%.
- Average Inflation Rate: The average annual inflation rate between 1954 and 2024 has been 4.47%.
| Cumulative price change | 2013.85% |
| Average inflation rate | 4.47% |
| Converted amount | 634.15 |
| Price difference | 604.15 |
| CPI in 1954 | 6.5 |
| CPI in 2024 | 137.4 |
| Inflation in 1954 | 1.56% |
| Inflation in 2024 | 2.23% |
| 30 in 1954 | 634.15 in 2024 |
Key Financial Indicators:
Consumer Price Index (CPI) Comparison
- CPI in 1954: 6.5
- CPI in 2024: 137.4
Inflation Rate at 1954 and 2024
- Inflation in 1954: 1.56%
- Inflation in 2024: 2.23%
Price Difference
- The price difference between 1954 and 2024 is $604.15.
1954 to 2024 Inflation Calculator
To understand the transformation of $30 from 1954 into 2024 Australian Dollars, consider the following table:
| Year | CPI | Inflation rate | Value in 2024 |
|---|---|---|---|
| 1954 | 6.5 | 1.56% | $30 |
| 2024 | 137.4 | 2.23% | $634.15 |
This table highlights the key figures that affect how the value of money changes over time due to inflation.
Buying Power of $30 in 1954
$30 in the year 1954 is now worth $634.15 in 2024, showing a substantial increase of $604.15 over the years. This change underscores how the average inflation rate of 4.47% annually has eroded the purchasing power of the Australian Dollar.