$100 in 1971 is equivalent in purchasing power to about $690.50 today, an increase of $590.50 over 51 years. The dollar had an average inflation rate of 3.86% per year between 1971 and today, producing a cumulative price increase of 590.50%.

This means that today's prices are 6.91 times higher than average prices since 1971, according to Statistics Canada consumer price index. A dollar today only buys 14.48% of what it could buy back then.

The inflation rate in 1971 was 2.70%. The current year-over-year inflation rate (2021 to 2022) is now 1.99%. If this number holds, $100 today will be equivalent in buying power to $101.99 next year.

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Cumulative price change | 590.50% |

Average inflation rate | 3.86% |

Converted amount ($100 base) | $690.50 |

Price difference ($100 base) | $590.50 |

CPI in 1971 | 20.883 |

CPI in 2022 | 144.200 |

Inflation in 1971 | 2.70% |

Inflation in 2022 | 1.99% |

$100 in 1971 | $690.50 in 2022 |

This chart shows a calculation of buying power equivalence for $100 in 1971 (price index tracking began in 1914).

For example, if you started with $100, you would need to end with $690.50 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $100 is equivalent to $690.50 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 1971 dollars, the chart below shows how $100 is worth less over 51 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 1971 amounts in today's dollars, based on the 590.50% change in prices:

Initial value | Equivalent value |
---|---|

$1 dollar in 1971 | $6.91 dollars today |

$5 dollars in 1971 | $34.53 dollars today |

$10 dollars in 1971 | $69.05 dollars today |

$50 dollars in 1971 | $345.25 dollars today |

$100 dollars in 1971 | $690.50 dollars today |

$500 dollars in 1971 | $3,452.51 dollars today |

$1,000 dollars in 1971 | $6,905.03 dollars today |

$5,000 dollars in 1971 | $34,525.14 dollars today |

$10,000 dollars in 1971 | $69,050.28 dollars today |

$50,000 dollars in 1971 | $345,251.40 dollars today |

$100,000 dollars in 1971 | $690,502.79 dollars today |

$500,000 dollars in 1971 | $3,452,513.97 dollars today |

$1,000,000 dollars in 1971 | $6,905,027.93 dollars today |

Our calculations use the following inflation rate formula to calculate the change in value between 1971 and today:

CPI today
CPI in 1971

×

1971 CAD value

=

Today's value

Then plug in historical CPI values. The Canadian CPI was 20.88333333 in the year 1971 and 144.2 in 2022:

144.220.88333333

×

$100

=

$100 in 1971 has the same "purchasing power" or "buying power" as $690.50 in 2022.

To get the total inflation rate for the 51 years between 1971 and 2022, we use the following formula:

CPI in 2022 - CPI in 1971CPI in 1971

×

100

=

Plugging in the values to this equation, we get:

144.2 - 20.8833333320.88333333

×

100

=

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

- Idi Amin declares himself president of Uganda.
- The Nasdaq Composite stock market index debuts with fifty companies and a starting value of 100.
- Indian troops, aided by Bengali guerrillas under Mukti Bahini, are victorious over the Pakistan army, in the battle of Garibpur.

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: “Value of 1971 Canadian dollars today | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 18 Jan. 2022, https://www.officialdata.org/canada/inflation/1971.

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 | 590.50% |

Average inflation rate | 3.86% |

Converted amount ($100 base) | $690.50 |

Price difference ($100 base) | $590.50 |

CPI in 1971 | 20.883 |

CPI in 2022 | 144.200 |

Inflation in 1971 | 2.70% |

Inflation in 2022 | 1.99% |

$100 in 1971 | $690.50 in 2022 |