# \$1 in 1945 is worth \$1.21 in 1947

\$

## Value of \$1 from 1945 to 1947

\$1 in 1945 is equivalent in purchasing power to about \$1.21 in 1947, an increase of \$0.21 over 2 years. The dollar had an average inflation rate of 9.84% per year between 1945 and 1947, producing a cumulative price increase of 20.65%.

This means that prices in 1947 are 1.21 times higher than average prices since 1945, according to Statistics Canada consumer price index.

The 1945 inflation rate was 2.22%. The inflation rate in 1947 was 14.43%. The 1947 inflation rate is higher compared to the average inflation rate of 3.46% per year between 1947 and 2021.

 Cumulative price change 20.65% Average inflation rate 9.84% Converted amount (\$1 base) \$1.21 Price difference (\$1 base) \$0.21 CPI in 1945 9.200 CPI in 1947 11.100 Inflation in 1945 2.22% Inflation in 1947 14.43% \$1 in 1945 \$1.21 in 1947

CAD Inflation since 1914
Annual Rate, Statistics Canada CPI

## Buying power of \$1 in 1945

This chart shows a calculation of buying power equivalence for \$1 in 1945 (price index tracking began in 1914).

For example, if you started with \$1, you would need to end with \$1.21 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$1 is equivalent to \$1.21 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 1945 dollars, the chart below shows how \$1 is worth less over 2 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: 1945-1947
Year Dollar Value Inflation Rate
1945 \$1.00 2.22%
1946 \$1.05 5.43%
1947 \$1.21 14.43%
1948 \$1.32 9.01%
1949 \$1.33 0.83%
1950 \$1.40 5.74%
1951 \$1.55 10.85%
1952 \$1.53 -1.40%
1953 \$1.53 0.00%
1954 \$1.53 0.00%
1955 \$1.54 0.71%
1956 \$1.59 2.82%
1957 \$1.62 2.05%
1958 \$1.66 2.68%
1959 \$1.68 1.31%
1960 \$1.71 1.29%
1961 \$1.71 0.00%
1962 \$1.74 1.91%
1963 \$1.77 1.88%
1964 \$1.80 1.84%
1965 \$1.86 3.01%
1966 \$1.92 3.51%
1967 \$2.00 3.95%
1968 \$2.09 4.35%
1969 \$2.18 4.69%
1970 \$2.21 1.00%
1971 \$2.32 4.93%
1972 \$2.43 5.16%
1973 \$2.66 9.38%
1974 \$3.00 12.65%
1975 \$3.28 9.42%
1976 \$3.47 5.63%
1977 \$3.79 9.40%
1978 \$4.12 8.60%
1979 \$4.52 9.76%
1980 \$5.02 11.06%
1981 \$5.63 12.12%
1982 \$6.15 9.27%
1983 \$6.43 4.59%
1984 \$6.67 3.72%
1985 \$6.97 4.40%
1986 \$7.26 4.21%
1987 \$7.57 4.19%
1988 \$7.86 3.88%
1989 \$8.27 5.26%
1990 \$8.68 4.99%
1991 \$9.01 3.75%
1992 \$9.21 2.17%
1993 \$9.36 1.65%
1994 \$9.38 0.23%
1995 \$9.54 1.74%
1996 \$9.75 2.16%
1997 \$9.83 0.78%
1998 \$9.92 1.00%
1999 \$10.18 2.63%
2000 \$10.51 3.20%
2001 \$10.59 0.72%
2002 \$10.99 3.80%
2003 \$11.22 2.08%
2004 \$11.46 2.13%
2005 \$11.70 2.09%
2006 \$11.89 1.67%
2007 \$12.17 2.38%
2008 \$12.32 1.16%
2009 \$12.48 1.32%
2010 \$12.77 2.35%
2011 \$13.07 2.30%
2012 \$13.17 0.83%
2013 \$13.34 1.24%
2014 \$13.53 1.47%
2015 \$13.75 1.61%
2016 \$13.96 1.50%
2017 \$14.17 1.56%
2018 \$14.22 0.31%
2019 \$14.50 1.99%
2020 \$14.83 2.25%
2021 \$14.93 0.73%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 1945 amounts in 1947 dollars, based on the 20.65% change in prices:

Conversion: 1945 dollars in 1947
Initial value Equivalent value
\$1 dollar in 1945 \$1.21 dollars in 1947
\$5 dollars in 1945 \$6.03 dollars in 1947
\$10 dollars in 1945 \$12.07 dollars in 1947
\$50 dollars in 1945 \$60.33 dollars in 1947
\$100 dollars in 1945 \$120.65 dollars in 1947
\$500 dollars in 1945 \$603.26 dollars in 1947
\$1,000 dollars in 1945 \$1,206.52 dollars in 1947
\$5,000 dollars in 1945 \$6,032.61 dollars in 1947
\$10,000 dollars in 1945 \$12,065.22 dollars in 1947
\$50,000 dollars in 1945 \$60,326.09 dollars in 1947
\$100,000 dollars in 1945 \$120,652.17 dollars in 1947
\$500,000 dollars in 1945 \$603,260.87 dollars in 1947
\$1,000,000 dollars in 1945 \$1,206,521.74 dollars in 1947

## How to Calculate Inflation Rate for \$1, 1945 to 1947

Our calculations use the following inflation rate formula to calculate the change in value between 1945 and 1947:

CPI in 1947 CPI in 1945
×
1945 CAD value
=
1947 CAD value

Then plug in historical CPI values. The Canadian CPI was 9.2 in the year 1945 and 11.1 in 1947:

11.19.2
×
\$1
=
\$1.21

\$1 in 1945 has the same "purchasing power" or "buying power" as \$1.21 in 1947.

To get the total inflation rate for the 2 years between 1945 and 1947, we use the following formula:

CPI in 1947 - CPI in 1945CPI in 1945
×
100
=
Cumulative inflation rate (2 years)

Plugging in the values to this equation, we get:

11.1 - 9.29.2
×
100
=
21%

## News headlines from 1945

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

• The USSR captures Budapest from Germany in a battle that kills 159,000 people.
• The US Fleet captures Iwo Jima.
• 1,500 US Navy ships bomb Okinawa: the operation is believed to be the largest of World War II
• Iwo Jima is occupied by America, costing 6,000 American lives and a further 18,000 Japanese lives.
• Buchenwald, the first Nazi concentration camp, is liberated.

## 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 1945 → 1947 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 19 Jun. 2021, https://www.officialdata.org/canada/inflation/1945?amount=1&endYear=1947.

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.

#### 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 20.65% Average inflation rate 9.84% Converted amount (\$1 base) \$1.21 Price difference (\$1 base) \$0.21 CPI in 1945 9.200 CPI in 1947 11.100 Inflation in 1945 2.22% Inflation in 1947 14.43% \$1 in 1945 \$1.21 in 1947