\$100 in 1924 → \$1,498.90 in 2020

\$

Canadian Inflation Rate, \$100 from 1924 to 2020

According to Statistics Canada consumer price index, today's prices in 2020 are 1,398.90% higher than average prices since 1924. The Canadian dollar experienced an average inflation rate of 2.86% per year during this period, meaning the real value of a dollar decreased.

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 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%

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 buys less over the past 96 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
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

How to Calculate Inflation Rate for \$100 since 1924

This inflation calculator uses the following inflation rate formula:

CPI in 2020CPI in 1924
×
=

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: “1924 dollars in 2020 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 24 Feb. 2020, https://www.officialdata.org/canada/inflation/1924?amount=&startYear=&future_pct=.