$1 in 1962 → $1.07 in 1965

Canada Inflation Calculator

$

$1 in 1962 → $1.07 in 1965

Canadian Inflation Rate, $1 in 1962 to 1965

According to Statistics Canada consumer price index, prices in 1965 are 6.88% higher than average prices since 1962. The Canadian dollar experienced an average inflation rate of 2.24% per year during this period, meaning the real value of a dollar decreased.

In other words, $1 in 1962 is equivalent in purchasing power to about $1.07 in 1965, a difference of $0.07 over 3 years.

The 1962 inflation rate was 1.91%. The inflation rate in 1965 was 3.01%. The 1965 inflation rate is lower compared to the average inflation rate of 3.85% per year between 1965 and 2020.


Inflation from 1962 to 1965
Cumulative price change 6.88%
Average inflation rate 2.24%
Converted amount ($1 base) $1.07
Price difference ($1 base) $0.07
CPI in 1962 16.000
CPI in 1965 17.100
Inflation in 1962 1.91%
Inflation in 1965 3.01%

CAD Inflation since 1914
Annual Rate, Statistics Canada CPI
Download

Buying power of $1 in 1962

This chart shows a calculation of buying power equivalence for $1 in 1962 (price index tracking began in 1914).

For example, if you started with $1, you would need to end with $1.07 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $1 is equivalent to $1.07 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 1962 dollars, the chart below shows how $1 buys less over the past 3 years.

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
1962 $1.00 1.91%
1963 $1.02 1.88%
1964 $1.04 1.84%
1965 $1.07 3.01%
1966 $1.11 3.51%
1967 $1.15 3.95%
1968 $1.20 4.35%
1969 $1.26 4.69%
1970 $1.27 1.00%
1971 $1.33 4.93%
1972 $1.40 5.16%
1973 $1.53 9.38%
1974 $1.73 12.65%
1975 $1.89 9.42%
1976 $1.99 5.63%
1977 $2.18 9.40%
1978 $2.37 8.60%
1979 $2.60 9.76%
1980 $2.89 11.06%
1981 $3.24 12.12%
1982 $3.54 9.27%
1983 $3.70 4.59%
1984 $3.84 3.72%
1985 $4.01 4.40%
1986 $4.18 4.21%
1987 $4.35 4.19%
1988 $4.52 3.88%
1989 $4.76 5.26%
1990 $4.99 4.99%
1991 $5.18 3.75%
1992 $5.29 2.17%
1993 $5.38 1.65%
1994 $5.39 0.23%
1995 $5.49 1.74%
1996 $5.61 2.16%
1997 $5.65 0.78%
1998 $5.71 1.00%
1999 $5.86 2.63%
2000 $6.04 3.20%
2001 $6.09 0.72%
2002 $6.32 3.80%
2003 $6.45 2.08%
2004 $6.59 2.13%
2005 $6.73 2.09%
2006 $6.84 1.67%
2007 $7.00 2.38%
2008 $7.08 1.16%
2009 $7.18 1.32%
2010 $7.34 2.35%
2011 $7.51 2.30%
2012 $7.58 0.83%
2013 $7.67 1.24%
2014 $7.78 1.47%
2015 $7.91 1.61%
2016 $8.03 1.50%
2017 $8.15 1.56%
2018 $8.18 0.31%
2019 $8.34 1.99%
2020 $8.53 2.25%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

How to Calculate Inflation Rate for $1, 1962 to 1965

This inflation calculator uses the following inflation rate formula:

CPI in 1965CPI in 1962
×
1962 CAD value
=
1965 CAD value

Then plug in historical CPI values. The Canadian CPI was 16 in the year 1962 and 17.1 in 1965:

17.116
×
$1
=
$1.07

$1 in 1962 has the same "purchasing power" or "buying power" as $1.07 in 1965.

To get the total inflation rate for the 3 years between 1962 and 1965, we use the following formula:

CPI in 1965 - CPI in 1962CPI in 1962
×
100
=
Cumulative inflation rate (3 years)

Plugging in the values to this equation, we get:

17.1 - 1616
×
100
=
7%

News headlines from 1962

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

  • The second Vatican Council is convened by Pope John XXIII.
  • The American President, Kennedy, orders the naval blockade of Cuba marking the beginning of the missile crisis.
  • The Cuban missile crisis also known as Black Saturday begins.

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 1962 → 1965 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 25 Jan. 2020, https://www.officialdata.org/1962-CAD-in-1965?amount=1.

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.

Email · LinkedIn · Twitter


» Read more about inflation and investment.

Inflation from 1962 to 1965
Cumulative price change 6.88%
Average inflation rate 2.24%
Converted amount ($1 base) $1.07
Price difference ($1 base) $0.07
CPI in 1962 16.000
CPI in 1965 17.100
Inflation in 1962 1.91%
Inflation in 1965 3.01%