Value of $1 from 1940 to 1961
$1 in 1940 is equivalent in purchasing power to about $1.97 in 1961, an increase of $0.97 over 21 years. The dollar had an average inflation rate of 3.28% per year between 1940 and 1961, producing a cumulative price increase of 96.87%.
This means that prices in 1961 are 1.97 times as high as average prices since 1940, according to Statistics Canada consumer price index.
The inflation rate in 1940 was 4.25%. The inflation rate in 1961 was 1.02%. The 1961 inflation rate is lower compared to the average inflation rate of 3.74% per year between 1961 and 2024.
⌃
| Cumulative price change | 96.87% |
| Average inflation rate | 3.28% |
| Converted amount $1 base | $1.97 |
| Price difference $1 base | $0.97 |
| CPI in 1940 | 7.975 |
| CPI in 1961 | 15.700 |
| Inflation in 1940 | 4.25% |
| Inflation in 1961 | 1.02% |
| $1 in 1940 | $1.97 in 1961 |
Buying power of $1 in 1940
This chart shows a calculation of buying power equivalence for $1 in 1940 (price index tracking began in 1914).
For example, if you started with $1, you would need to end with $1.97 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $1 is equivalent to $1.97 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 1940 dollars, the chart below shows how $1 is worth less over 21 years.
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 1940 amounts in 1961 dollars, based on the 96.87% change in prices:
| Initial value | Equivalent value |
|---|---|
| $1 dollar in 1940 | $1.97 dollars in 1961 |
| $5 dollars in 1940 | $9.84 dollars in 1961 |
| $10 dollars in 1940 | $19.69 dollars in 1961 |
| $50 dollars in 1940 | $98.43 dollars in 1961 |
| $100 dollars in 1940 | $196.87 dollars in 1961 |
| $500 dollars in 1940 | $984.33 dollars in 1961 |
| $1,000 dollars in 1940 | $1,968.65 dollars in 1961 |
| $5,000 dollars in 1940 | $9,843.26 dollars in 1961 |
| $10,000 dollars in 1940 | $19,686.52 dollars in 1961 |
| $50,000 dollars in 1940 | $98,432.60 dollars in 1961 |
| $100,000 dollars in 1940 | $196,865.20 dollars in 1961 |
| $500,000 dollars in 1940 | $984,326.02 dollars in 1961 |
| $1,000,000 dollars in 1940 | $1,968,652.04 dollars in 1961 |
How to calculate inflation rate for $1, 1940 to 1961
Our calculations use the following inflation rate formula to calculate the change in value between 1940 and 1961:
CPI in 1961 CPI in 1940
×
1940 CAD value
=
1961 CAD value
Then plug in historical CPI values. The Canadian CPI was 7.975 in the year 1940 and 15.7 in 1961:
15.77.975
×
$1
=
$1.97
$1 in 1940 has the same "purchasing power" or "buying power" as $1.97 in 1961.
To get the total inflation rate for the 21 years between 1940 and 1961, we use the following formula:
CPI in 1961 - CPI in 1940CPI in 1940
×
100
=
Cumulative inflation rate (21 years)
Plugging in the values to this equation, we get:
15.7 - 7.9757.975
×
100
=
97%
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 1940 → 1961 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 27 Apr. 2024, https://www.officialdata.org/canada/inflation/1940?amount=1&endYear=1961.
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 | 96.87% |
| Average inflation rate | 3.28% |
| Converted amount $1 base | $1.97 |
| Price difference $1 base | $0.97 |
| CPI in 1940 | 7.975 |
| CPI in 1961 | 15.700 |
| Inflation in 1940 | 4.25% |
| Inflation in 1961 | 1.02% |
| $1 in 1940 | $1.97 in 1961 |