Value of $100 from 1924 to 1988
According to Statistics Canada consumer price index, prices in 1988 are 694.51% higher than average prices since 1924. The Canadian dollar experienced an average inflation rate of 3.29% per year during this period, causing the real value of a dollar to decrease.
In other words, $100 in 1924 is equivalent in purchasing power to about $794.51 in 1988, a difference of $694.51 over 64 years.
The 1924 inflation rate was -1.09%. The inflation rate in 1988 was 3.88%. The 1988 inflation rate is higher compared to the average inflation rate of 2.00% per year between 1988 and 2020.
⌃
| Cumulative price change | 694.51% |
| Average inflation rate | 3.29% |
| Converted amount ($100 base) | $794.51 |
| Price difference ($100 base) | $694.51 |
| CPI in 1924 | 9.100 |
| CPI in 1988 | 72.300 |
| Inflation in 1924 | -1.09% |
| Inflation in 1988 | 3.88% |
Buying power of $100 in 1924
This chart shows a calculation of buying power equivalence for $100 in 1924 (price index tracking began in 1914).
For example, if you started with $100, you would need to end with $794.51 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $100 is equivalent to $794.51 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 1924 dollars, the chart below shows how $100 is worth less over 64 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 1924 amounts in 1988 dollars, based on the 694.51% change in prices:
| Initial value | Equivalent value |
|---|---|
| $1 dollar in 1924 | $7.95 dollars in 1988 |
| $5 dollars in 1924 | $39.73 dollars in 1988 |
| $10 dollars in 1924 | $79.45 dollars in 1988 |
| $50 dollars in 1924 | $397.25 dollars in 1988 |
| $100 dollars in 1924 | $794.51 dollars in 1988 |
| $500 dollars in 1924 | $3,972.53 dollars in 1988 |
| $1,000 dollars in 1924 | $7,945.05 dollars in 1988 |
| $5,000 dollars in 1924 | $39,725.27 dollars in 1988 |
| $10,000 dollars in 1924 | $79,450.55 dollars in 1988 |
| $50,000 dollars in 1924 | $397,252.75 dollars in 1988 |
| $100,000 dollars in 1924 | $794,505.49 dollars in 1988 |
| $500,000 dollars in 1924 | $3,972,527.47 dollars in 1988 |
| $1,000,000 dollars in 1924 | $7,945,054.95 dollars in 1988 |
How to Calculate Inflation Rate for $100, 1924 to 1988
Our calculations use the following inflation rate formula to calculate the change in value between 1924 and 1988:
CPI in 1988
CPI in 1924
×
1924 CAD value
=
1988 CAD value
Then plug in historical CPI values. The Canadian CPI was 9.1 in the year 1924 and 72.3 in 1988:
72.39.1
×
$100
=
$794.51
$100 in 1924 has the same "purchasing power" or "buying power" as $794.51 in 1988.
To get the total inflation rate for the 64 years between 1924 and 1988, we use the following formula:
CPI in 1988 - CPI in 1924CPI in 1924
×
100
=
Cumulative inflation rate (64 years)
Plugging in the values to this equation, we get:
72.3 - 9.19.1
×
100
=
695%
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: “1924 dollars in 1988 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 5 Jul. 2020, https://www.officialdata.org/1924-CAD-in-1988.
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 | 694.51% |
| Average inflation rate | 3.29% |
| Converted amount ($100 base) | $794.51 |
| Price difference ($100 base) | $694.51 |
| CPI in 1924 | 9.100 |
| CPI in 1988 | 72.300 |
| Inflation in 1924 | -1.09% |
| Inflation in 1988 | 3.88% |