$1 in 1941 is worth $1.06 in 1945

Value of $1 from 1941 to 1945

According to Statistics Canada consumer price index, prices in 1945 are 5.75% higher than average prices since 1941. The Canadian dollar experienced an average inflation rate of 1.41% per year during this period, causing the real value of a dollar to decrease.

In other words, $1 in 1941 is equivalent in purchasing power to about $1.06 in 1945, a difference of $0.06 over 4 years.

The 1941 inflation rate was 6.10%. The inflation rate in 1945 was 2.22%. The 1945 inflation rate is lower compared to the average inflation rate of 3.66% per year between 1945 and 2020.


Inflation from 1941 to 1945
Cumulative price change 5.75%
Average inflation rate 1.41%
Converted amount ($1 base) $1.06
Price difference ($1 base) $0.06
CPI in 1941 8.700
CPI in 1945 9.200
Inflation in 1941 6.10%
Inflation in 1945 2.22%

CAD Inflation since 1914
Annual Rate, Statistics Canada CPI
Download

Buying power of $1 in 1941

This chart shows a calculation of buying power equivalence for $1 in 1941 (price index tracking began in 1914).

For example, if you started with $1, you would need to end with $1.06 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $1 is equivalent to $1.06 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 1941 dollars, the chart below shows how $1 is worth less over 4 years.

According to Statistics Canada, each of these CAD amounts below is equal in terms of what it could buy at the time:

Dollar inflation: 1941-1945
Year Dollar Value Inflation Rate
1941 $1.00 6.10%
1942 $1.03 3.45%
1943 $1.06 2.22%
1944 $1.03 -2.17%
1945 $1.06 2.22%
1946 $1.11 5.43%
1947 $1.28 14.43%
1948 $1.39 9.01%
1949 $1.40 0.83%
1950 $1.48 5.74%
1951 $1.64 10.85%
1952 $1.62 -1.40%
1953 $1.62 0.00%
1954 $1.62 0.00%
1955 $1.63 0.71%
1956 $1.68 2.82%
1957 $1.71 2.05%
1958 $1.76 2.68%
1959 $1.78 1.31%
1960 $1.80 1.29%
1961 $1.80 0.00%
1962 $1.84 1.91%
1963 $1.87 1.88%
1964 $1.91 1.84%
1965 $1.97 3.01%
1966 $2.03 3.51%
1967 $2.11 3.95%
1968 $2.21 4.35%
1969 $2.31 4.69%
1970 $2.33 1.00%
1971 $2.45 4.93%
1972 $2.57 5.16%
1973 $2.82 9.38%
1974 $3.17 12.65%
1975 $3.47 9.42%
1976 $3.67 5.63%
1977 $4.01 9.40%
1978 $4.36 8.60%
1979 $4.78 9.76%
1980 $5.31 11.06%
1981 $5.95 12.12%
1982 $6.51 9.27%
1983 $6.80 4.59%
1984 $7.06 3.72%
1985 $7.37 4.40%
1986 $7.68 4.21%
1987 $8.00 4.19%
1988 $8.31 3.88%
1989 $8.75 5.26%
1990 $9.18 4.99%
1991 $9.53 3.75%
1992 $9.74 2.17%
1993 $9.90 1.65%
1994 $9.92 0.23%
1995 $10.09 1.74%
1996 $10.31 2.16%
1997 $10.39 0.78%
1998 $10.49 1.00%
1999 $10.77 2.63%
2000 $11.11 3.20%
2001 $11.20 0.72%
2002 $11.62 3.80%
2003 $11.86 2.08%
2004 $12.11 2.13%
2005 $12.37 2.09%
2006 $12.57 1.67%
2007 $12.87 2.38%
2008 $13.02 1.16%
2009 $13.20 1.32%
2010 $13.51 2.35%
2011 $13.82 2.30%
2012 $13.93 0.83%
2013 $14.10 1.24%
2014 $14.31 1.47%
2015 $14.54 1.61%
2016 $14.76 1.50%
2017 $14.99 1.56%
2018 $15.03 0.31%
2019 $15.33 1.99%
2020 $15.68 2.25%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 1941 amounts in 1945 dollars, based on the 5.75% change in prices:

Conversion Table: Value of a dollar in 1945
Initial value Equivalent value
$1 dollar in 1941 $1.06 dollars in 1945
$5 dollars in 1941 $5.29 dollars in 1945
$10 dollars in 1941 $10.57 dollars in 1945
$50 dollars in 1941 $52.87 dollars in 1945
$100 dollars in 1941 $105.75 dollars in 1945
$500 dollars in 1941 $528.74 dollars in 1945
$1,000 dollars in 1941 $1,057.47 dollars in 1945
$5,000 dollars in 1941 $5,287.36 dollars in 1945
$10,000 dollars in 1941 $10,574.71 dollars in 1945
$50,000 dollars in 1941 $52,873.56 dollars in 1945
$100,000 dollars in 1941 $105,747.13 dollars in 1945
$500,000 dollars in 1941 $528,735.63 dollars in 1945
$1,000,000 dollars in 1941 $1,057,471.26 dollars in 1945

How to Calculate Inflation Rate for $1, 1941 to 1945

Our calculations use the following inflation rate formula to calculate the change in value between 1941 and 1945:

CPI in 1945 CPI in 1941
×
1941 CAD value
=
1945 CAD value

Then plug in historical CPI values. The Canadian CPI was 8.7 in the year 1941 and 9.2 in 1945:

9.28.7
×
$1
=
$1.06

$1 in 1941 has the same "purchasing power" or "buying power" as $1.06 in 1945.

To get the total inflation rate for the 4 years between 1941 and 1945, we use the following formula:

CPI in 1945 - CPI in 1941CPI in 1941
×
100
=
Cumulative inflation rate (4 years)

Plugging in the values to this equation, we get:

9.2 - 8.78.7
×
100
=
6%

News headlines from 1941

Politics and news often influence economic performance. Here's what was happening at the time:

  • 6,000 Jews are exterminated in the Bucharest pogrom in Romania.
  • Kuomintang troops open fire at communist forces, leading to the resumption of the Chinese civil war.
  • The British battle cruiser the HMS Hood is sunk by the German Battleship Bismarck, leading to 1,416 dead and only 3 survivors.
  • Germany, Italy, and Romania declare war on the Soviet Union.

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 in 1941 → 1945 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 25 May. 2020, https://www.officialdata.org/1941-CAD-in-1945?amount=1.

Special thanks to QuickChart for providing downloadable chart images.

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


Ian Webster

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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Inflation from 1941 to 1945
Cumulative price change 5.75%
Average inflation rate 1.41%
Converted amount ($1 base) $1.06
Price difference ($1 base) $0.06
CPI in 1941 8.700
CPI in 1945 9.200
Inflation in 1941 6.10%
Inflation in 1945 2.22%