# \$1 in 1960 is worth \$1.04 in 1963

\$

## Value of \$1 from 1960 to 1963

\$1 in 1960 is equivalent in purchasing power to about \$1.04 in 1963, an increase of \$0.04 over 3 years. The dollar had an average inflation rate of 1.24% per year between 1960 and 1963, producing a cumulative price increase of 3.75%.

This means that prices in 1963 are 1.04 times higher than average prices since 1960, according to Statistics Canada consumer price index.

The inflation rate in 1960 was 1.36%. The inflation rate in 1963 was 1.63%. The 1963 inflation rate is lower compared to the average inflation rate of 3.87% per year between 1963 and 2022.

 Cumulative price change 3.75% Average inflation rate 1.24% Converted amount (\$1 base) \$1.04 Price difference (\$1 base) \$0.04 CPI in 1960 15.542 CPI in 1963 16.125 Inflation in 1960 1.36% Inflation in 1963 1.63% \$1 in 1960 \$1.04 in 1963

## Buying power of \$1 in 1960

This chart shows a calculation of buying power equivalence for \$1 in 1960 (price index tracking began in 1914).

For example, if you started with \$1, you would need to end with \$1.04 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$1 is equivalent to \$1.04 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 1960 dollars, the chart below shows how \$1 is worth less over 3 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: 1960-1963
YearDollar ValueInflation Rate
1960\$1.001.36%
1961\$1.011.02%
1962\$1.021.06%
1963\$1.041.63%
1964\$1.061.91%
1965\$1.082.33%
1966\$1.123.82%
1967\$1.163.58%
1968\$1.214.06%
1969\$1.274.56%
1970\$1.313.35%
1971\$1.342.70%
1972\$1.414.99%
1973\$1.527.49%
1974\$1.6811.00%
1975\$1.8610.67%
1976\$2.007.54%
1977\$2.167.98%
1978\$2.368.97%
1979\$2.579.14%
1980\$2.8310.13%
1981\$3.1912.47%
1982\$3.5310.77%
1983\$3.745.86%
1984\$3.904.30%
1985\$4.053.96%
1986\$4.224.19%
1987\$4.414.36%
1988\$4.584.03%
1989\$4.814.98%
1990\$5.044.78%
1991\$5.335.63%
1992\$5.401.49%
1993\$5.511.87%
1994\$5.510.17%
1995\$5.632.15%
1996\$5.721.57%
1997\$5.811.62%
1998\$5.871.00%
1999\$5.971.73%
2000\$6.142.72%
2001\$6.292.53%
2002\$6.432.26%
2003\$6.612.76%
2004\$6.731.86%
2005\$6.882.21%
2006\$7.022.00%
2007\$7.172.14%
2008\$7.342.37%
2009\$7.360.30%
2010\$7.491.78%
2011\$7.712.91%
2012\$7.831.52%
2013\$7.900.94%
2014\$8.051.91%
2015\$8.141.13%
2016\$8.261.43%
2017\$8.391.60%
2018\$8.582.27%
2019\$8.751.95%
2020\$8.810.72%
2021\$9.113.40%
2022\$9.777.20%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 1960 amounts in 1963 dollars, based on the 3.75% change in prices:

Conversion: 1960 dollars in 1963
Initial valueEquivalent value
\$1 dollar in 1960\$1.04 dollars in 1963
\$5 dollars in 1960\$5.19 dollars in 1963
\$10 dollars in 1960\$10.38 dollars in 1963
\$50 dollars in 1960\$51.88 dollars in 1963
\$100 dollars in 1960\$103.75 dollars in 1963
\$500 dollars in 1960\$518.77 dollars in 1963
\$1,000 dollars in 1960\$1,037.53 dollars in 1963
\$5,000 dollars in 1960\$5,187.67 dollars in 1963
\$10,000 dollars in 1960\$10,375.34 dollars in 1963
\$50,000 dollars in 1960\$51,876.68 dollars in 1963
\$100,000 dollars in 1960\$103,753.35 dollars in 1963
\$500,000 dollars in 1960\$518,766.76 dollars in 1963
\$1,000,000 dollars in 1960\$1,037,533.51 dollars in 1963

## How to calculate inflation rate for \$1, 1960 to 1963

Our calculations use the following inflation rate formula to calculate the change in value between 1960 and 1963:

CPI in 1963 CPI in 1960
×
=

Then plug in historical CPI values. The Canadian CPI was 15.54166667 in the year 1960 and 16.125 in 1963:

16.12515.54166667
×
\$1
=
\$1.04

\$1 in 1960 has the same "purchasing power" or "buying power" as \$1.04 in 1963.

To get the total inflation rate for the 3 years between 1960 and 1963, we use the following formula:

CPI in 1963 - CPI in 1960CPI in 1960
×
100
=
Cumulative inflation rate (3 years)

Plugging in the values to this equation, we get:

16.125 - 15.5416666715.54166667
×
100
=
4%

## 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 1960 → 1963 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 11 Aug. 2022, https://www.officialdata.org/canada/inflation/1960?amount=1&endYear=1963.

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.

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 3.75% Average inflation rate 1.24% Converted amount (\$1 base) \$1.04 Price difference (\$1 base) \$0.04 CPI in 1960 15.542 CPI in 1963 16.125 Inflation in 1960 1.36% Inflation in 1963 1.63% \$1 in 1960 \$1.04 in 1963