# \$100 in 1924 is worth \$1,498.90 today

\$

## Why a dollar today is worth only 7% of a dollar in 1924

Updated: May 12, 2020

According to Statistics Canada consumer price index, today's prices in 2020 are 1,398.90% higher than average prices since 1924. This means that a dollar today only buys 6.67% of what it could buy in 1924. The Canadian dollar experienced an average inflation rate of 2.86% per year during this period, causing the real value of a dollar to decrease.

In other words, \$100 in 1924 is equivalent in purchasing power to about \$1,498.90 in 2020, a difference of \$1,398.90 over 96 years.

The 1924 inflation rate was -1.09%. The current year-over-year inflation rate (2019 to 2020) is now 2.25%1. If this number holds, \$100 today will be equivalent in buying power to \$102.25 next year.

 Cumulative price change 1,398.90% Average inflation rate 2.86% Converted amount (\$100 base) \$1,498.90 Price difference (\$100 base) \$1,398.90 CPI in 1924 9.100 CPI in 2020 136.400 Inflation in 1924 -1.09% Inflation in 2020 2.25%

CAD Inflation since 1914
Annual Rate, Statistics Canada CPI

## Buying power of \$100 in 1924

This chart shows a calculation of buying power equivalence for \$100 in 1924 (price index tracking began in 1914).

For example, if you started with \$100, you would need to end with \$1,498.90 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$100 is equivalent to \$1,498.90 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 1924 dollars, the chart below shows how \$100 is worth less over 96 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: 1924-2020
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%
2020 \$1,498.90 2.25%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 90 more rows

This conversion table shows various other 1924 amounts in today's dollars, based on the 1,398.90% change in prices:

Conversion Table: Value of a dollar today
Initial value Equivalent value
\$1 dollar in 1924 \$14.99 dollars today
\$5 dollars in 1924 \$74.95 dollars today
\$10 dollars in 1924 \$149.89 dollars today
\$50 dollars in 1924 \$749.45 dollars today
\$100 dollars in 1924 \$1,498.90 dollars today
\$500 dollars in 1924 \$7,494.51 dollars today
\$1,000 dollars in 1924 \$14,989.01 dollars today
\$5,000 dollars in 1924 \$74,945.05 dollars today
\$10,000 dollars in 1924 \$149,890.11 dollars today
\$50,000 dollars in 1924 \$749,450.55 dollars today
\$100,000 dollars in 1924 \$1,498,901.10 dollars today
\$500,000 dollars in 1924 \$7,494,505.49 dollars today
\$1,000,000 dollars in 1924 \$14,989,010.99 dollars today

## How to Calculate Inflation Rate for \$100 since 1924

Our calculations use the following inflation rate formula to calculate the change in value between 1924 and today:

CPI today CPI in 1924
×
1924 CAD value
=
Today's value

Then plug in historical CPI values. The Canadian CPI was 9.1 in the year 1924 and 136.4 in 2020:

136.49.1
×
\$100
=
\$1,498.90

\$100 in 1924 has the same "purchasing power" or "buying power" as \$1,498.90 in 2020.

To get the total inflation rate for the 96 years between 1924 and 2020, we use the following formula:

CPI in 2020 - CPI in 1924CPI in 1924
×
100
=
Cumulative inflation rate (96 years)

Plugging in the values to this equation, we get:

136.4 - 9.19.1
×
100
=
1,399%

## 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: “Value of 1924 dollars today | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 2 Jun. 2020, https://www.officialdata.org/ca/inflation/1924.

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.

 Cumulative price change 1,398.90% Average inflation rate 2.86% Converted amount (\$100 base) \$1,498.90 Price difference (\$100 base) \$1,398.90 CPI in 1924 9.100 CPI in 2020 136.400 Inflation in 1924 -1.09% Inflation in 2020 2.25%