$1,500 in 1945 is equivalent in purchasing power to about $22,452.19 in 2020, an increase of $20,952.19 over 75 years. The dollar had an average inflation rate of 3.67% per year between 1945 and 2020, producing a cumulative price increase of 1,396.81%.
This means that prices in 2020 are 14.97 times as high as average prices since 1945, according to Statistics Canada consumer price index.
The inflation rate in 1945 was 0.64%. The inflation rate in 2020 was 0.72%. The 2020 inflation rate is lower compared to the average inflation rate of 3.77% per year between 2020 and 2024.
Cumulative price change | 1,396.81% |
Average inflation rate | 3.67% |
Converted amount $1,500 base | $22,452.19 |
Price difference $1,500 base | $20,952.19 |
CPI in 1945 | 9.150 |
CPI in 2020 | 136.958 |
Inflation in 1945 | 0.64% |
Inflation in 2020 | 0.72% |
$1,500 in 1945 | $22,452.19 in 2020 |
This chart shows a calculation of buying power equivalence for $1,500 in 1945 (price index tracking began in 1914).
For example, if you started with $1,500, you would need to end with $22,452.19 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $1,500 is equivalent to $22,452.19 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 $1,500 is worth less over 75 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 1945 amounts in 2020 dollars, based on the 1,396.81% change in prices:
Initial value | Equivalent value |
---|---|
$1 dollar in 1945 | $14.97 dollars in 2020 |
$5 dollars in 1945 | $74.84 dollars in 2020 |
$10 dollars in 1945 | $149.68 dollars in 2020 |
$50 dollars in 1945 | $748.41 dollars in 2020 |
$100 dollars in 1945 | $1,496.81 dollars in 2020 |
$500 dollars in 1945 | $7,484.06 dollars in 2020 |
$1,000 dollars in 1945 | $14,968.12 dollars in 2020 |
$5,000 dollars in 1945 | $74,840.62 dollars in 2020 |
$10,000 dollars in 1945 | $149,681.24 dollars in 2020 |
$50,000 dollars in 1945 | $748,406.19 dollars in 2020 |
$100,000 dollars in 1945 | $1,496,812.39 dollars in 2020 |
$500,000 dollars in 1945 | $7,484,061.93 dollars in 2020 |
$1,000,000 dollars in 1945 | $14,968,123.86 dollars in 2020 |
Our calculations use the following inflation rate formula to calculate the change in value between 1945 and 2020:
Then plug in historical CPI values. The Canadian CPI was 9.15 in the year 1945 and 136.95833333333334 in 2020:
$1,500 in 1945 has the same "purchasing power" or "buying power" as $22,452.19 in 2020.
To get the total inflation rate for the 75 years between 1945 and 2020, we use the following formula:
Plugging in the values to this equation, we get:
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: “$1,500 in 1945 → 2020 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 19 May. 2024, https://www.officialdata.org/canada/inflation/1945?amount=1500&endYear=2020.
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 | 1,396.81% |
Average inflation rate | 3.67% |
Converted amount $1,500 base | $22,452.19 |
Price difference $1,500 base | $20,952.19 |
CPI in 1945 | 9.150 |
CPI in 2020 | 136.958 |
Inflation in 1945 | 0.64% |
Inflation in 2020 | 0.72% |
$1,500 in 1945 | $22,452.19 in 2020 |