The Impact of Inflation on value of $20 from 1979 to 2024
In 1913 the price of $20 is approximately equal to $114.98 in 2024. Prices changed by 4.11% (or $2.11) per year on average during that period. It means that every purchase will cost you 5.75 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 $20 in 1979 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 $20 in 1979 Worth Today?
- Converted Amount: The $20 from 1979, adjusted for inflation, would be equivalent to $114.98 in 2024.
- Cumulative Price Change: Over this period, the cumulative price change has been 474.90%.
- Average Inflation Rate: The average annual inflation rate between 1979 and 2024 has been 4.11%.
Cumulative price change | 474.90% |
Average inflation rate | 4.11% |
Converted amount | 114.98 |
Price difference | 94.98 |
CPI in 1979 | 23.9 |
CPI in 2024 | 137.4 |
Inflation in 1979 | 9.13% |
Inflation in 2024 | 2.23% |
20 in 1979 | 114.98 in 2024 |
Key Financial Indicators:
Consumer Price Index (CPI) Comparison
- CPI in 1979: 23.9
- CPI in 2024: 137.4
Inflation Rate at 1979 and 2024
- Inflation in 1979: 9.13%
- Inflation in 2024: 2.23%
Price Difference
- The price difference between 1979 and 2024 is $94.98.
1979 to 2024 Inflation Calculator
To understand the transformation of $20 from 1979 into 2024 Australian Dollars, consider the following table:
Year | CPI | Inflation rate | Value in 2024 |
---|---|---|---|
1979 | 23.9 | 9.13% | $20 |
2024 | 137.4 | 2.23% | $114.98 |
This table highlights the key figures that affect how the value of money changes over time due to inflation.
Buying Power of $20 in 1979
$20 in the year 1979 is now worth $114.98 in 2024, showing a substantial increase of $94.98 over the years. This change underscores how the average inflation rate of 4.11% annually has eroded the purchasing power of the Australian Dollar.