Value of $1 from 1950 to 1971
$1 in 1950 is equivalent in purchasing power to about $1.67 in 1971, an increase of $0.67 over 21 years. The dollar had an average inflation rate of 2.48% per year between 1950 and 1971, producing a cumulative price increase of 67.29%.
This means that prices in 1971 are 1.67 times as high as average prices since 1950, according to Statistics Canada consumer price index.
The inflation rate in 1950 was 2.67%. The inflation rate in 1971 was 2.70%. The 1971 inflation rate is lower compared to the average inflation rate of 3.90% per year between 1971 and 2024.
⌃
| Cumulative price change | 67.29% |
| Average inflation rate | 2.48% |
| Converted amount $1 base | $1.67 |
| Price difference $1 base | $0.67 |
| CPI in 1950 | 12.483 |
| CPI in 1971 | 20.883 |
| Inflation in 1950 | 2.67% |
| Inflation in 1971 | 2.70% |
| $1 in 1950 | $1.67 in 1971 |
Buying power of $1 in 1950
This chart shows a calculation of buying power equivalence for $1 in 1950 (price index tracking began in 1914).
For example, if you started with $1, you would need to end with $1.67 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $1 is equivalent to $1.67 over time, that means that the "real value" of a single Canadian 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 1950 dollars, the chart below shows how $1 is worth less over 21 years.
According to Statistics Canada, each of these CAD amounts below is equal in terms of what it could buy at the time:
This conversion table shows various other 1950 amounts in 1971 dollars, based on the 67.29% change in prices:
| Initial value | Equivalent value |
|---|---|
| $1 dollar in 1950 | $1.67 dollars in 1971 |
| $5 dollars in 1950 | $8.36 dollars in 1971 |
| $10 dollars in 1950 | $16.73 dollars in 1971 |
| $50 dollars in 1950 | $83.64 dollars in 1971 |
| $100 dollars in 1950 | $167.29 dollars in 1971 |
| $500 dollars in 1950 | $836.45 dollars in 1971 |
| $1,000 dollars in 1950 | $1,672.90 dollars in 1971 |
| $5,000 dollars in 1950 | $8,364.49 dollars in 1971 |
| $10,000 dollars in 1950 | $16,728.97 dollars in 1971 |
| $50,000 dollars in 1950 | $83,644.86 dollars in 1971 |
| $100,000 dollars in 1950 | $167,289.72 dollars in 1971 |
| $500,000 dollars in 1950 | $836,448.60 dollars in 1971 |
| $1,000,000 dollars in 1950 | $1,672,897.20 dollars in 1971 |
How to calculate inflation rate for $1, 1950 to 1971
Our calculations use the following inflation rate formula to calculate the change in value between 1950 and 1971:
CPI in 1971 CPI in 1950
×
1950 CAD value
=
1971 CAD value
Then plug in historical CPI values. The Canadian CPI was 12.48333333 in the year 1950 and 20.88333333 in 1971:
20.8833333312.48333333
×
$1
=
$1.67
$1 in 1950 has the same "purchasing power" or "buying power" as $1.67 in 1971.
To get the total inflation rate for the 21 years between 1950 and 1971, we use the following formula:
CPI in 1971 - CPI in 1950CPI in 1950
×
100
=
Cumulative inflation rate (21 years)
Plugging in the values to this equation, we get:
20.88333333 - 12.4833333312.48333333
×
100
=
67%
Data source & citation
Raw data for these calculations comes from the government of Canada's annual Consumer Price Index (CPI), established in 1914 and computed by Statistics Canada (StatCan).
You may use the following MLA citation for this page: “$1 in 1950 → 1971 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 1 Nov. 2024, https://www.officialdata.org/canada/inflation/1950?amount=1&endYear=1971.
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 | 67.29% |
| Average inflation rate | 2.48% |
| Converted amount $1 base | $1.67 |
| Price difference $1 base | $0.67 |
| CPI in 1950 | 12.483 |
| CPI in 1971 | 20.883 |
| Inflation in 1950 | 2.67% |
| Inflation in 1971 | 2.70% |
| $1 in 1950 | $1.67 in 1971 |