Value of $1,000,000 from 1929 to 2017
$1,000,000 in 1929 is equivalent in purchasing power to about $14,138,211.38 in 2017, an increase of $13,138,211.38 over 88 years. The dollar had an average inflation rate of 3.06% per year between 1929 and 2017, producing a cumulative price increase of 1,313.82%.
This means that prices in 2017 are 14.14 times as high as average prices since 1929, according to Statistics Canada consumer price index.
The inflation rate in 1929 was 1.00%. The inflation rate in 2017 was 1.60%. The 2017 inflation rate is lower compared to the average inflation rate of 2.85% per year between 2017 and 2024.
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| Cumulative price change | 1,313.82% |
| Average inflation rate | 3.06% |
| Converted amount $1,000,000 base | $14,138,211.38 |
| Price difference $1,000,000 base | $13,138,211.38 |
| CPI in 1929 | 9.225 |
| CPI in 2017 | 130.425 |
| Inflation in 1929 | 1.00% |
| Inflation in 2017 | 1.60% |
| $1,000,000 in 1929 | $14,138,211.38 in 2017 |
Buying power of $1,000,000 in 1929
This chart shows a calculation of buying power equivalence for $1,000,000 in 1929 (price index tracking began in 1914).
For example, if you started with $1,000,000, you would need to end with $14,138,211.38 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $1,000,000 is equivalent to $14,138,211.38 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 1929 dollars, the chart below shows how $1,000,000 is worth less over 88 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 1929 amounts in 2017 dollars, based on the 1,313.82% change in prices:
| Initial value | Equivalent value |
|---|---|
| $1 dollar in 1929 | $14.14 dollars in 2017 |
| $5 dollars in 1929 | $70.69 dollars in 2017 |
| $10 dollars in 1929 | $141.38 dollars in 2017 |
| $50 dollars in 1929 | $706.91 dollars in 2017 |
| $100 dollars in 1929 | $1,413.82 dollars in 2017 |
| $500 dollars in 1929 | $7,069.11 dollars in 2017 |
| $1,000 dollars in 1929 | $14,138.21 dollars in 2017 |
| $5,000 dollars in 1929 | $70,691.06 dollars in 2017 |
| $10,000 dollars in 1929 | $141,382.11 dollars in 2017 |
| $50,000 dollars in 1929 | $706,910.57 dollars in 2017 |
| $100,000 dollars in 1929 | $1,413,821.14 dollars in 2017 |
| $500,000 dollars in 1929 | $7,069,105.69 dollars in 2017 |
| $1,000,000 dollars in 1929 | $14,138,211.38 dollars in 2017 |
How to calculate inflation rate for $1,000,000, 1929 to 2017
Our calculations use the following inflation rate formula to calculate the change in value between 1929 and 2017:
CPI in 2017 CPI in 1929
×
1929 CAD value
=
2017 CAD value
Then plug in historical CPI values. The Canadian CPI was 9.225 in the year 1929 and 130.425 in 2017:
130.4259.225
×
$1,000,000
=
$14,138,211.38
$1,000,000 in 1929 has the same "purchasing power" or "buying power" as $14,138,211.38 in 2017.
To get the total inflation rate for the 88 years between 1929 and 2017, we use the following formula:
CPI in 2017 - CPI in 1929CPI in 1929
×
100
=
Cumulative inflation rate (88 years)
Plugging in the values to this equation, we get:
130.425 - 9.2259.225
×
100
=
1,314%
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: “$1,000,000 in 1929 → 2017 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 19 Sep. 2024, https://www.officialdata.org/1929-CAD-in-2017?amount=1000000.
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 | 1,313.82% |
| Average inflation rate | 3.06% |
| Converted amount $1,000,000 base | $14,138,211.38 |
| Price difference $1,000,000 base | $13,138,211.38 |
| CPI in 1929 | 9.225 |
| CPI in 2017 | 130.425 |
| Inflation in 1929 | 1.00% |
| Inflation in 2017 | 1.60% |
| $1,000,000 in 1929 | $14,138,211.38 in 2017 |