# \$100 in 1956 → \$934.25 in 2020

\$

### Canadian Inflation Rate, \$100 from 1956 to 2020

According to Statistics Canada consumer price index, today's prices in 2020 are 834.25% higher than average prices since 1956. The Canadian dollar experienced an average inflation rate of 3.55% per year during this period, meaning the real value of a dollar decreased.

In other words, \$100 in 1956 is equivalent in purchasing power to about \$934.25 in 2020, a difference of \$834.25 over 64 years.

The 1956 inflation rate was 2.82%. 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 834.25% Average inflation rate 3.55% Converted amount (\$100 base) \$934.25 Price difference (\$100 base) \$834.25 CPI in 1956 14.600 CPI in 2020 136.400 Inflation in 1956 2.82% Inflation in 2020 2.25%

### Buying power of \$100 in 1956

This chart shows a calculation of buying power equivalence for \$100 in 1956 (price index tracking began in 1914).

For example, if you started with \$100, you would need to end with \$934.25 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$100 is equivalent to \$934.25 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 1956 dollars, the chart below shows how \$100 buys less over the past 64 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
1956 \$100.00 2.82%
1957 \$102.05 2.05%
1958 \$104.79 2.68%
1959 \$106.16 1.31%
1960 \$107.53 1.29%
1961 \$107.53 0.00%
1962 \$109.59 1.91%
1963 \$111.64 1.88%
1964 \$113.70 1.84%
1965 \$117.12 3.01%
1966 \$121.23 3.51%
1967 \$126.03 3.95%
1968 \$131.51 4.35%
1969 \$137.67 4.69%
1970 \$139.04 1.00%
1971 \$145.89 4.93%
1972 \$153.42 5.16%
1973 \$167.81 9.38%
1974 \$189.04 12.65%
1975 \$206.85 9.42%
1976 \$218.49 5.63%
1977 \$239.04 9.40%
1978 \$259.59 8.60%
1979 \$284.93 9.76%
1980 \$316.44 11.06%
1981 \$354.79 12.12%
1982 \$387.67 9.27%
1983 \$405.48 4.59%
1984 \$420.55 3.72%
1985 \$439.04 4.40%
1986 \$457.53 4.21%
1987 \$476.71 4.19%
1988 \$495.21 3.88%
1989 \$521.23 5.26%
1990 \$547.26 4.99%
1991 \$567.81 3.75%
1992 \$580.14 2.17%
1993 \$589.73 1.65%
1994 \$591.10 0.23%
1995 \$601.37 1.74%
1996 \$614.38 2.16%
1997 \$619.18 0.78%
1998 \$625.34 1.00%
1999 \$641.78 2.63%
2000 \$662.33 3.20%
2001 \$667.12 0.72%
2002 \$692.47 3.80%
2003 \$706.85 2.08%
2004 \$721.92 2.13%
2005 \$736.99 2.09%
2006 \$749.32 1.67%
2007 \$767.12 2.38%
2008 \$776.03 1.16%
2009 \$786.30 1.32%
2010 \$804.79 2.35%
2011 \$823.29 2.30%
2012 \$830.14 0.83%
2013 \$840.41 1.24%
2014 \$852.74 1.47%
2015 \$866.44 1.61%
2016 \$879.45 1.50%
2017 \$893.15 1.56%
2018 \$895.89 0.31%
2019 \$913.70 1.99%
2020 \$934.25 2.25%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 58 more rows

### How to Calculate Inflation Rate for \$100 since 1956

This inflation calculator uses the following inflation rate formula:

CPI in 2020CPI in 1956
×
=

Then plug in historical CPI values. The Canadian CPI was 14.6 in the year 1956 and 136.4 in 2020:

136.414.6
×
\$100
=
\$934.25

\$100 in 1956 has the same "purchasing power" or "buying power" as \$934.25 in 2020.

To get the total inflation rate for the 64 years between 1956 and 2020, we use the following formula:

CPI in 2020 - CPI in 1956CPI in 1956
×
100
=
Cumulative inflation rate (64 years)

Plugging in the values to this equation, we get:

136.4 - 14.614.6
×
100
=
834%

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

• Nikita Khrushchev criticises Stalin at 20th Soviet Party Conference.
• Morocco declares independence from France, tearing up the Treaty of Fez.
• IBM introduces the first computer with a hard drive, RAMAC 305, which weighs over one ton.
• President Eisenhower orders the desegregation of Little Rock schools.
• Shippingport Atomic Power Station in Pennsylvania becomes the world's first nuclear power station to generate electricity.

### 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: “1956 dollars in 2020 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 24 Feb. 2020, https://www.officialdata.org/canada/inflation/1956?amount=&startYear=&future_pct=.