The Impact of Inflation on value of $1 from 1989 to 2024
In 1913 the price of $1 is approximately equal to $2.57 in 2024. Prices changed by 2.87% (or $0.04) per year on average during that period. It means that every purchase will cost you 2.57 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 $1 in 1989 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 $1 in 1989 Worth Today?
- Converted Amount: The $1 from 1989, adjusted for inflation, would be equivalent to $2.57 in 2024.
- Cumulative Price Change: Over this period, the cumulative price change has been 156.82%.
- Average Inflation Rate: The average annual inflation rate between 1989 and 2024 has been 2.87%.
Cumulative price change | 156.82% |
Average inflation rate | 2.87% |
Converted amount | 2.57 |
Price difference | 1.57 |
CPI in 1989 | 53.5 |
CPI in 2024 | 137.4 |
Inflation in 1989 | 7.43% |
Inflation in 2024 | 2.23% |
1 in 1989 | 2.57 in 2024 |
Key Financial Indicators:
Consumer Price Index (CPI) Comparison
- CPI in 1989: 53.5
- CPI in 2024: 137.4
Inflation Rate at 1989 and 2024
- Inflation in 1989: 7.43%
- Inflation in 2024: 2.23%
Price Difference
- The price difference between 1989 and 2024 is $1.57.
1989 to 2024 Inflation Calculator
To understand the transformation of $1 from 1989 into 2024 Australian Dollars, consider the following table:
Year | CPI | Inflation rate | Value in 2024 |
---|---|---|---|
1989 | 53.5 | 7.43% | $1 |
2024 | 137.4 | 2.23% | $2.57 |
This table highlights the key figures that affect how the value of money changes over time due to inflation.
Buying Power of $1 in 1989
$1 in the year 1989 is now worth $2.57 in 2024, showing a substantial increase of $1.57 over the years. This change underscores how the average inflation rate of 2.87% annually has eroded the purchasing power of the Australian Dollar.