According to Statistics Canada consumer price index, prices in 1988 are 694.51% higher than average prices throughout 1924. The dollar experienced an average inflation rate of 3.29% per year during this period, meaning the real value of a dollar decreased.
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 2019.
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% |
This chart shows calculation of buying power equivalence, often referred to as "the value of a dollar" over time for $100 in 1924 (price index tracking began in 1914).
According to Statistics Canada, each of these CAD amounts below is equal in terms of what it could buy at the time:
This inflation calculator uses the following inflation rate formula:
Then plug in historical CPI values. The Canadian CPI was 9.1 in the year 1924 and 72.3 in 1988:
$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:
Plugging in the values to this equation, we get:
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.” U.S. Official Inflation Data, Alioth Finance, 6 Dec. 2019, https://www.officialdata.org/1924-CAD-in-1988.
Special thanks to QuickChart for providing downloadable chart images.
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% |