$1 in 1920 is equivalent in purchasing power to about $0.79 in 1924, a difference of $-0.21 over 4 years. The dollar had an average **deflation** rate of -5.59% per year since 1920, producing a cumulative price change of -20.54%.

This means that prices in 1924 are 20.54% lower than average prices since 1920, according to Statistics Canada consumer price index.

The inflation rate in 1920 was 16.30%. The inflation rate in 1924 was -1.90%. The 1924 inflation rate is lower compared to the average inflation rate of 2.92% per year between 1924 and 2022.

⌃

Cumulative price change | -20.54% |

Average inflation rate | -5.59% |

Converted amount ($1 base) | $0.79 |

Price difference ($1 base) | $-0.21 |

CPI in 1920 | 11.358 |

CPI in 1924 | 9.025 |

Inflation in 1920 | 16.30% |

Inflation in 1924 | -1.90% |

$1 in 1920 | $0.79 in 1924 |

This chart shows a calculation of buying power equivalence for $1 in 1920 (price index tracking began in 1914).

For example, if you started with $1, you would need to end with $0.79 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

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 1920 amounts in 1924 dollars, based on the -20.54% change in prices:

Initial value | Equivalent value |
---|---|

$1 dollar in 1920 | $0.79 dollars in 1924 |

$5 dollars in 1920 | $3.97 dollars in 1924 |

$10 dollars in 1920 | $7.95 dollars in 1924 |

$50 dollars in 1920 | $39.73 dollars in 1924 |

$100 dollars in 1920 | $79.46 dollars in 1924 |

$500 dollars in 1920 | $397.29 dollars in 1924 |

$1,000 dollars in 1920 | $794.57 dollars in 1924 |

$5,000 dollars in 1920 | $3,972.85 dollars in 1924 |

$10,000 dollars in 1920 | $7,945.71 dollars in 1924 |

$50,000 dollars in 1920 | $39,728.54 dollars in 1924 |

$100,000 dollars in 1920 | $79,457.08 dollars in 1924 |

$500,000 dollars in 1920 | $397,285.40 dollars in 1924 |

$1,000,000 dollars in 1920 | $794,570.80 dollars in 1924 |

Our calculations use the following inflation rate formula to calculate the change in value between 1920 and 1924:

CPI in 1924 CPI in 1920

×

1920 CAD value

=

1924 CAD value

Then plug in historical CPI values. The Canadian CPI was 11.35833333 in the year 1920 and 9.025 in 1924:

9.02511.35833333

×

$1

=

$1 in 1920 has the same "purchasing power" or "buying power" as $0.79 in 1924.

To get the total inflation rate for the 4 years between 1920 and 1924, we use the following formula:

CPI in 1924 - CPI in 1920CPI in 1920

×

100

=

Plugging in the values to this equation, we get:

9.025 - 11.3583333311.35833333

×

100

=

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 1920 → 1924 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 30 Sep. 2022, https://www.officialdata.org/canada/inflation/1920?amount=1&endYear=1924.

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 | -20.54% |

Average inflation rate | -5.59% |

Converted amount ($1 base) | $0.79 |

Price difference ($1 base) | $-0.21 |

CPI in 1920 | 11.358 |

CPI in 1924 | 9.025 |

Inflation in 1920 | 16.30% |

Inflation in 1924 | -1.90% |

$1 in 1920 | $0.79 in 1924 |