$100 in 1924 → $1,003.30 in 1998

Canada Inflation Calculator

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$100 in 1924 → $1,003.30 in 1998

Canadian Inflation Rate, $100 in 1924 to 1998

According to Statistics Canada consumer price index, prices in 1998 are 903.30% higher than average prices throughout 1924. The dollar experienced an average inflation rate of 3.17% 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 $1,003.30 in 1998, a difference of $903.30 over 74 years.

The 1924 inflation rate was -1.09%. The inflation rate in 1998 was 1.00%. The 1998 inflation rate is lower compared to the average inflation rate of 1.82% per year between 1998 and 2019.


Inflation from 1924 to 1998
Cumulative price change 903.30%
Average inflation rate 3.17%
Converted amount ($100 base) $1,003.30
Price difference ($100 base) $903.30
CPI in 1924 9.100
CPI in 1998 91.300
Inflation in 1924 -1.09%
Inflation in 1998 1.00%

CAD inflation chart from 1914 to 2017


Buying power of $100 in 1924

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:

Year Dollar Value Inflation Rate
1924 $100.00 -1.09%
1925 $102.20 2.20%
1926 $101.10 -1.08%
1927 $100.00 -1.09%
1928 $101.10 1.10%
1929 $103.30 2.17%
1930 $96.70 -6.38%
1931 $86.81 -10.23%
1932 $80.22 -7.59%
1933 $78.02 -2.74%
1934 $79.12 1.41%
1935 $81.32 2.78%
1936 $82.42 1.35%
1937 $85.71 4.00%
1938 $83.52 -2.56%
1939 $85.71 2.63%
1940 $90.11 5.13%
1941 $95.60 6.10%
1942 $98.90 3.45%
1943 $101.10 2.22%
1944 $98.90 -2.17%
1945 $101.10 2.22%
1946 $106.59 5.43%
1947 $121.98 14.43%
1948 $132.97 9.01%
1949 $134.07 0.83%
1950 $141.76 5.74%
1951 $157.14 10.85%
1952 $154.95 -1.40%
1953 $154.95 0.00%
1954 $154.95 0.00%
1955 $156.04 0.71%
1956 $160.44 2.82%
1957 $163.74 2.05%
1958 $168.13 2.68%
1959 $170.33 1.31%
1960 $172.53 1.29%
1961 $172.53 0.00%
1962 $175.82 1.91%
1963 $179.12 1.88%
1964 $182.42 1.84%
1965 $187.91 3.01%
1966 $194.51 3.51%
1967 $202.20 3.95%
1968 $210.99 4.35%
1969 $220.88 4.69%
1970 $223.08 1.00%
1971 $234.07 4.93%
1972 $246.15 5.16%
1973 $269.23 9.38%
1974 $303.30 12.65%
1975 $331.87 9.42%
1976 $350.55 5.63%
1977 $383.52 9.40%
1978 $416.48 8.60%
1979 $457.14 9.76%
1980 $507.69 11.06%
1981 $569.23 12.12%
1982 $621.98 9.27%
1983 $650.55 4.59%
1984 $674.73 3.72%
1985 $704.40 4.40%
1986 $734.07 4.21%
1987 $764.84 4.19%
1988 $794.51 3.88%
1989 $836.26 5.26%
1990 $878.02 4.99%
1991 $910.99 3.75%
1992 $930.77 2.17%
1993 $946.15 1.65%
1994 $948.35 0.23%
1995 $964.84 1.74%
1996 $985.71 2.16%
1997 $993.41 0.78%
1998 $1,003.30 1.00%
1999 $1,029.67 2.63%
2000 $1,062.64 3.20%
2001 $1,070.33 0.72%
2002 $1,110.99 3.80%
2003 $1,134.07 2.08%
2004 $1,158.24 2.13%
2005 $1,182.42 2.09%
2006 $1,202.20 1.67%
2007 $1,230.77 2.38%
2008 $1,245.05 1.16%
2009 $1,261.54 1.32%
2010 $1,291.21 2.35%
2011 $1,320.88 2.30%
2012 $1,331.87 0.83%
2013 $1,348.35 1.24%
2014 $1,368.13 1.47%
2015 $1,390.11 1.61%
2016 $1,410.99 1.50%
2017 $1,432.97 1.56%
2018 $1,437.36 0.31%
2019 $1,465.93 1.99%*
* 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, 1924 to 1998

This inflation calculator uses the following inflation rate formula:

CPI in 1998CPI in 1924
×
1924 CAD value
=
1998 CAD value

Then plug in historical CPI values. The Canadian CPI was 9.1 in the year 1924 and 91.3 in 1998:

91.39.1
×
$100
=
$1,003.30

$100 in 1924 has the same "purchasing power" or "buying power" as $1,003.30 in 1998.

To get the total inflation rate for the 74 years between 1924 and 1998, we use the following formula:

CPI in 1998 - CPI in 1924CPI in 1924
×
100
=
Cumulative inflation rate (74 years)

Plugging in the values to this equation, we get:

91.3 - 9.19.1
×
100
=
903%

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 1998 | Canada Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 13 Dec. 2019, https://www.officialdata.org/1924-CAD-in-1998.

Special thanks to QuickChart for providing downloadable chart images.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


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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» Read more about inflation and investment.

Inflation from 1924 to 1998
Cumulative price change 903.30%
Average inflation rate 3.17%
Converted amount ($100 base) $1,003.30
Price difference ($100 base) $903.30
CPI in 1924 9.100
CPI in 1998 91.300
Inflation in 1924 -1.09%
Inflation in 1998 1.00%
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