Value of $100 from 1923 to 2005
According to Statistics Canada consumer price index, prices in 2005 are 1,069.57% higher than average prices since 1923. The Canadian dollar experienced an average inflation rate of 3.04% 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 $1,169.57 in 2005, a difference of $1,069.57 over 82 years.
The 1923 inflation rate was 0.00%. The inflation rate in 2005 was 2.09%. The 2005 inflation rate is higher compared to the average inflation rate of 1.59% per year between 2005 and 2020.
⌃
| Cumulative price change | 1,069.57% |
| Average inflation rate | 3.04% |
| Converted amount ($100 base) | $1,169.57 |
| Price difference ($100 base) | $1,069.57 |
| CPI in 1923 | 9.200 |
| CPI in 2005 | 107.600 |
| Inflation in 1923 | 0.00% |
| Inflation in 2005 | 2.09% |
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 $1,169.57 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $100 is equivalent to $1,169.57 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 82 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 1923 amounts in 2005 dollars, based on the 1,069.57% change in prices:
| Initial value | Equivalent value |
|---|---|
| $1 dollar in 1923 | $11.70 dollars in 2005 |
| $5 dollars in 1923 | $58.48 dollars in 2005 |
| $10 dollars in 1923 | $116.96 dollars in 2005 |
| $50 dollars in 1923 | $584.78 dollars in 2005 |
| $100 dollars in 1923 | $1,169.57 dollars in 2005 |
| $500 dollars in 1923 | $5,847.83 dollars in 2005 |
| $1,000 dollars in 1923 | $11,695.65 dollars in 2005 |
| $5,000 dollars in 1923 | $58,478.26 dollars in 2005 |
| $10,000 dollars in 1923 | $116,956.52 dollars in 2005 |
| $50,000 dollars in 1923 | $584,782.61 dollars in 2005 |
| $100,000 dollars in 1923 | $1,169,565.22 dollars in 2005 |
| $500,000 dollars in 1923 | $5,847,826.09 dollars in 2005 |
| $1,000,000 dollars in 1923 | $11,695,652.17 dollars in 2005 |
How to Calculate Inflation Rate for $100, 1923 to 2005
Our calculations use the following inflation rate formula to calculate the change in value between 1923 and 2005:
CPI in 2005
CPI in 1923
×
1923 CAD value
=
2005 CAD value
Then plug in historical CPI values. The Canadian CPI was 9.2 in the year 1923 and 107.6 in 2005:
107.69.2
×
$100
=
$1,169.57
$100 in 1923 has the same "purchasing power" or "buying power" as $1,169.57 in 2005.
To get the total inflation rate for the 82 years between 1923 and 2005, we use the following formula:
CPI in 2005 - CPI in 1923CPI in 1923
×
100
=
Cumulative inflation rate (82 years)
Plugging in the values to this equation, we get:
107.6 - 9.29.2
×
100
=
1,070%
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 2005 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 5 Jul. 2020, https://www.officialdata.org/1923-CAD-in-2005.
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 | 1,069.57% |
| Average inflation rate | 3.04% |
| Converted amount ($100 base) | $1,169.57 |
| Price difference ($100 base) | $1,069.57 |
| CPI in 1923 | 9.200 |
| CPI in 2005 | 107.600 |
| Inflation in 1923 | 0.00% |
| Inflation in 2005 | 2.09% |