$100 in 1923 is worth $1,145.65 in 2004

Value of $100 from 1923 to 2004

According to Statistics Canada consumer price index, prices in 2004 are 1,045.65% higher than average prices since 1923. The Canadian dollar experienced an average inflation rate of 3.06% per year during this period, causing the real value of a dollar to decrease.

In other words, $100 in 1923 is equivalent in purchasing power to about $1,145.65 in 2004, a difference of $1,045.65 over 81 years.

The 1923 inflation rate was 0.00%. The inflation rate in 2004 was 2.13%. The 2004 inflation rate is higher compared to the average inflation rate of 1.62% per year between 2004 and 2020.


Inflation from 1923 to 2004
Cumulative price change 1,045.65%
Average inflation rate 3.06%
Converted amount ($100 base) $1,145.65
Price difference ($100 base) $1,045.65
CPI in 1923 9.200
CPI in 2004 105.400
Inflation in 1923 0.00%
Inflation in 2004 2.13%

CAD Inflation since 1914
Annual Rate, Statistics Canada CPI
Download

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 $1,145.65 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $100 is equivalent to $1,145.65 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 is worth less over 81 years.

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

Dollar inflation: 1923-2004
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 75 more rows

This conversion table shows various other 1923 amounts in 2004 dollars, based on the 1,045.65% change in prices:

Conversion Table: Value of a dollar in 2004
Initial value Equivalent value
$1 dollar in 1923 $11.46 dollars in 2004
$5 dollars in 1923 $57.28 dollars in 2004
$10 dollars in 1923 $114.57 dollars in 2004
$50 dollars in 1923 $572.83 dollars in 2004
$100 dollars in 1923 $1,145.65 dollars in 2004
$500 dollars in 1923 $5,728.26 dollars in 2004
$1,000 dollars in 1923 $11,456.52 dollars in 2004
$5,000 dollars in 1923 $57,282.61 dollars in 2004
$10,000 dollars in 1923 $114,565.22 dollars in 2004
$50,000 dollars in 1923 $572,826.09 dollars in 2004
$100,000 dollars in 1923 $1,145,652.17 dollars in 2004
$500,000 dollars in 1923 $5,728,260.87 dollars in 2004
$1,000,000 dollars in 1923 $11,456,521.74 dollars in 2004

How to Calculate Inflation Rate for $100, 1923 to 2004

Our calculations use the following inflation rate formula to calculate the change in value between 1923 and 2004:

CPI in 2004 CPI in 1923
×
1923 CAD value
=
2004 CAD value

Then plug in historical CPI values. The Canadian CPI was 9.2 in the year 1923 and 105.4 in 2004:

105.49.2
×
$100
=
$1,145.65

$100 in 1923 has the same "purchasing power" or "buying power" as $1,145.65 in 2004.

To get the total inflation rate for the 81 years between 1923 and 2004, we use the following formula:

CPI in 2004 - CPI in 1923CPI in 1923
×
100
=
Cumulative inflation rate (81 years)

Plugging in the values to this equation, we get:

105.4 - 9.29.2
×
100
=
1,046%

News headlines from 1923

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 2004 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 5 Jul. 2020, https://www.officialdata.org/1923-CAD-in-2004.

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.


Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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Inflation from 1923 to 2004
Cumulative price change 1,045.65%
Average inflation rate 3.06%
Converted amount ($100 base) $1,145.65
Price difference ($100 base) $1,045.65
CPI in 1923 9.200
CPI in 2004 105.400
Inflation in 1923 0.00%
Inflation in 2004 2.13%