$100 in 2003 is equivalent in purchasing power to about $149.24 today, an increase of $49.24 over 18 years. The dollar had an average inflation rate of 2.25% per year between 2003 and today, producing a cumulative price increase of 49.24%.

This means that today's prices are 1.49 times higher than average prices since 2003, according to the Bureau of Statistics consumer price index. A dollar today only buys 67.01% of what it could buy back then.

The inflation rate in 2003 was 2.73%. The current year-over-year inflation rate (2020 to 2021) is now 1.55%. If this number holds, $100 today will be equivalent in buying power to $101.55 next year.

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Cumulative price change | 49.24% |

Average inflation rate | 2.25% |

Converted amount ($100 base) | $149.24 |

Price difference ($100 base) | $49.24 |

CPI in 2003 | 79.000 |

CPI in 2021 | 117.900 |

Inflation in 2003 | 2.73% |

Inflation in 2021 | 1.55% |

$100 in 2003 | $149.24 in 2021 |

This chart shows a calculation of buying power equivalence for $100 in 2003 (price index tracking began in 1922).

For example, if you started with $100, you would need to end with $149.24 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $100 is equivalent to $149.24 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 2003 dollars, the chart below shows how $100 is worth less over 18 years.

According to the Bureau of Statistics, each of these AUD amounts below is equal in terms of what it could buy at the time:

This conversion table shows various other 2003 amounts in today's dollars, based on the 49.24% change in prices:

Initial value | Equivalent value |
---|---|

$1 dollar in 2003 | $1.49 dollars today |

$5 dollars in 2003 | $7.46 dollars today |

$10 dollars in 2003 | $14.92 dollars today |

$50 dollars in 2003 | $74.62 dollars today |

$100 dollars in 2003 | $149.24 dollars today |

$500 dollars in 2003 | $746.20 dollars today |

$1,000 dollars in 2003 | $1,492.41 dollars today |

$5,000 dollars in 2003 | $7,462.03 dollars today |

$10,000 dollars in 2003 | $14,924.05 dollars today |

$50,000 dollars in 2003 | $74,620.25 dollars today |

$100,000 dollars in 2003 | $149,240.51 dollars today |

$500,000 dollars in 2003 | $746,202.53 dollars today |

$1,000,000 dollars in 2003 | $1,492,405.06 dollars today |

Our calculations use the following inflation rate formula to calculate the change in value between 2003 and today:

CPI today
CPI in 2003

×

2003 AUD value

=

Today's value

Then plug in historical CPI values. The Australian CPI was 79 in the year 2003 and 117.9 in 2021:

117.979

×

$100

=

$100 in 2003 has the same "purchasing power" or "buying power" as $149.24 in 2021.

To get the total inflation rate for the 18 years between 2003 and 2021, we use the following formula:

CPI in 2021 - CPI in 2003CPI in 2003

×

100

=

Plugging in the values to this equation, we get:

117.9 - 7979

×

100

=

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

- Despite a lack of support from the United Nations, a coalition lead by America and Britain invades Iraq.
- Baghdad falls, ending the invasion of Iraq.
- 10 new members are admitted to the European Union after signing the Treaty of Accession in Athens.

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: “Value of 2003 Australian dollars today | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 5 Dec. 2021, https://www.officialdata.org/australia/inflation/2003.

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.

Cumulative price change | 49.24% |

Average inflation rate | 2.25% |

Converted amount ($100 base) | $149.24 |

Price difference ($100 base) | $49.24 |

CPI in 2003 | 79.000 |

CPI in 2021 | 117.900 |

Inflation in 2003 | 2.73% |

Inflation in 2021 | 1.55% |

$100 in 2003 | $149.24 in 2021 |