# \$1 in 1945 is worth \$1.71 in 1961

\$

## Value of \$1 from 1945 to 1961

According to Statistics Canada consumer price index, prices in 1961 are 70.65% higher than average prices since 1945. The Canadian dollar experienced an average inflation rate of 3.40% per year during this period, causing the real value of a dollar to decrease.

In other words, \$1 in 1945 is equivalent in purchasing power to about \$1.71 in 1961, a difference of \$0.71 over 16 years.

The 1945 inflation rate was 2.22%. The inflation rate in 1961 was 0.00%. The 1961 inflation rate is lower compared to the average inflation rate of 3.73% per year between 1961 and 2020.

 Cumulative price change 70.65% Average inflation rate 3.40% Converted amount (\$1 base) \$1.71 Price difference (\$1 base) \$0.71 CPI in 1945 9.200 CPI in 1961 15.700 Inflation in 1945 2.22% Inflation in 1961 0.00%

## 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 \$1.71 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$1 is equivalent to \$1.71 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 16 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: 1945-1961
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%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 10 more rows

This conversion table shows various other 1945 amounts in 1961 dollars, based on the 70.65% change in prices:

Conversion Table: Value of a dollar in 1961
Initial value Equivalent value
\$1 dollar in 1945 \$1.71 dollars in 1961
\$5 dollars in 1945 \$8.53 dollars in 1961
\$10 dollars in 1945 \$17.07 dollars in 1961
\$50 dollars in 1945 \$85.33 dollars in 1961
\$100 dollars in 1945 \$170.65 dollars in 1961
\$500 dollars in 1945 \$853.26 dollars in 1961
\$1,000 dollars in 1945 \$1,706.52 dollars in 1961
\$5,000 dollars in 1945 \$8,532.61 dollars in 1961
\$10,000 dollars in 1945 \$17,065.22 dollars in 1961
\$50,000 dollars in 1945 \$85,326.09 dollars in 1961
\$100,000 dollars in 1945 \$170,652.17 dollars in 1961
\$500,000 dollars in 1945 \$853,260.87 dollars in 1961
\$1,000,000 dollars in 1945 \$1,706,521.74 dollars in 1961

## How to Calculate Inflation Rate for \$1, 1945 to 1961

Our calculations use the following inflation rate formula to calculate the change in value between 1945 and 1961:

CPI in 1961 CPI in 1945
×
=

Then plug in historical CPI values. The Canadian CPI was 9.2 in the year 1945 and 15.7 in 1961:

15.79.2
×
\$1
=
\$1.71

\$1 in 1945 has the same "purchasing power" or "buying power" as \$1.71 in 1961.

To get the total inflation rate for the 16 years between 1945 and 1961, we use the following formula:

CPI in 1961 - CPI in 1945CPI in 1945
×
100
=
Cumulative inflation rate (16 years)

Plugging in the values to this equation, we get:

15.7 - 9.29.2
×
100
=
71%

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 → 1961 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 21 Oct. 2020, https://www.officialdata.org/canada/inflation/1945?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.