# \$100 in 1923 → \$982.61 in 1997

\$

### Canadian Inflation Rate, \$100 from 1923 to 1997

According to Statistics Canada consumer price index, prices in 1997 are 882.61% higher than average prices since 1923. The Canadian dollar experienced an average inflation rate of 3.14% per year during this period, meaning the real value of a dollar decreased.

In other words, \$100 in 1923 is equivalent in purchasing power to about \$982.61 in 1997, a difference of \$882.61 over 74 years.

The 1923 inflation rate was 0.00%. The inflation rate in 1997 was 0.78%. The 1997 inflation rate is lower compared to the average inflation rate of 1.80% per year between 1997 and 2020.

 Cumulative price change 882.61% Average inflation rate 3.14% Converted amount (\$100 base) \$982.61 Price difference (\$100 base) \$882.61 CPI in 1923 9.200 CPI in 1997 90.400 Inflation in 1923 0.00% Inflation in 1997 0.78%

### Buying power of \$100 in 1923

This chart shows a calculation of buying power equivalence for \$100 in 1923 (price index tracking began in 1914).

For example, if you started with \$100, you would need to end with \$982.61 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$100 is equivalent to \$982.61 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 1923 dollars, the chart below shows how \$100 buys less over the past 74 years.

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

Year Dollar Value Inflation Rate
1923 \$100.00 -
1924 \$98.91 -1.09%
1925 \$101.09 2.20%
1926 \$100.00 -1.08%
1927 \$98.91 -1.09%
1928 \$100.00 1.10%
1929 \$102.17 2.17%
1930 \$95.65 -6.38%
1931 \$85.87 -10.23%
1932 \$79.35 -7.59%
1933 \$77.17 -2.74%
1934 \$78.26 1.41%
1935 \$80.43 2.78%
1936 \$81.52 1.35%
1937 \$84.78 4.00%
1938 \$82.61 -2.56%
1939 \$84.78 2.63%
1940 \$89.13 5.13%
1941 \$94.57 6.10%
1942 \$97.83 3.45%
1943 \$100.00 2.22%
1944 \$97.83 -2.17%
1945 \$100.00 2.22%
1946 \$105.43 5.43%
1947 \$120.65 14.43%
1948 \$131.52 9.01%
1949 \$132.61 0.83%
1950 \$140.22 5.74%
1951 \$155.43 10.85%
1952 \$153.26 -1.40%
1953 \$153.26 0.00%
1954 \$153.26 0.00%
1955 \$154.35 0.71%
1956 \$158.70 2.82%
1957 \$161.96 2.05%
1958 \$166.30 2.68%
1959 \$168.48 1.31%
1960 \$170.65 1.29%
1961 \$170.65 0.00%
1962 \$173.91 1.91%
1963 \$177.17 1.88%
1964 \$180.43 1.84%
1965 \$185.87 3.01%
1966 \$192.39 3.51%
1967 \$200.00 3.95%
1968 \$208.70 4.35%
1969 \$218.48 4.69%
1970 \$220.65 1.00%
1971 \$231.52 4.93%
1972 \$243.48 5.16%
1973 \$266.30 9.38%
1974 \$300.00 12.65%
1975 \$328.26 9.42%
1976 \$346.74 5.63%
1977 \$379.35 9.40%
1978 \$411.96 8.60%
1979 \$452.17 9.76%
1980 \$502.17 11.06%
1981 \$563.04 12.12%
1982 \$615.22 9.27%
1983 \$643.48 4.59%
1984 \$667.39 3.72%
1985 \$696.74 4.40%
1986 \$726.09 4.21%
1987 \$756.52 4.19%
1988 \$785.87 3.88%
1989 \$827.17 5.26%
1990 \$868.48 4.99%
1991 \$901.09 3.75%
1992 \$920.65 2.17%
1993 \$935.87 1.65%
1994 \$938.04 0.23%
1995 \$954.35 1.74%
1996 \$975.00 2.16%
1997 \$982.61 0.78%
1998 \$992.39 1.00%
1999 \$1,018.48 2.63%
2000 \$1,051.09 3.20%
2001 \$1,058.70 0.72%
2002 \$1,098.91 3.80%
2003 \$1,121.74 2.08%
2004 \$1,145.65 2.13%
2005 \$1,169.57 2.09%
2006 \$1,189.13 1.67%
2007 \$1,217.39 2.38%
2008 \$1,231.52 1.16%
2009 \$1,247.83 1.32%
2010 \$1,277.17 2.35%
2011 \$1,306.52 2.30%
2012 \$1,317.39 0.83%
2013 \$1,333.70 1.24%
2014 \$1,353.26 1.47%
2015 \$1,375.00 1.61%
2016 \$1,395.65 1.50%
2017 \$1,417.39 1.56%
2018 \$1,421.74 0.31%
2019 \$1,450.00 1.99%
2020 \$1,482.61 2.25%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 68 more rows

### How to Calculate Inflation Rate for \$100, 1923 to 1997

This inflation calculator uses the following inflation rate formula:

CPI in 1997CPI in 1923
×
=

Then plug in historical CPI values. The Canadian CPI was 9.2 in the year 1923 and 90.4 in 1997:

90.49.2
×
\$100
=
\$982.61

\$100 in 1923 has the same "purchasing power" or "buying power" as \$982.61 in 1997.

To get the total inflation rate for the 74 years between 1923 and 1997, we use the following formula:

CPI in 1997 - CPI in 1923CPI in 1923
×
100
=
Cumulative inflation rate (74 years)

Plugging in the values to this equation, we get:

90.4 - 9.29.2
×
100
=
883%

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

• The inner burial chamber of the Pharaoh Tutankhamun's tomb is opened, leading to the finding of the sarcophagus by Howard Carter.
• The Disney Brothers Cartoon Studio is founded.
• Lenin's "Political Testament" is issued which calls for Stalin's removal.
• In Germany, 5,000 storm troopers demonstrate against the 'November crime', Hitler is arrested after seeking to take advantage of the chaotic conditions.

### 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: “1923 dollars in 1997 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 24 Feb. 2020, https://www.officialdata.org/1923-CAD-in-1997.