# \$100 in 1973 is worth \$556.73 today

\$

## Why a dollar today is worth only 18% of a dollar in 1973

Updated: September 11, 2020

According to Statistics Canada consumer price index, today's prices in 2020 are 456.73% higher than average prices since 1973. This means that a dollar today only buys 17.96% of what it could buy in 1973. The Canadian dollar experienced an average inflation rate of 3.72% per year during this period, causing the real value of a dollar to decrease.

In other words, \$100 in 1973 is equivalent in purchasing power to about \$556.73 in 2020, a difference of \$456.73 over 47 years.

The 1973 inflation rate was 9.38%. The current year-over-year 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 456.73% Average inflation rate 3.72% Converted amount (\$100 base) \$556.73 Price difference (\$100 base) \$456.73 CPI in 1973 24.500 CPI in 2020 136.400 Inflation in 1973 9.38% Inflation in 2020 2.25%

## Buying power of \$100 in 1973

This chart shows a calculation of buying power equivalence for \$100 in 1973 (price index tracking began in 1914).

For example, if you started with \$100, you would need to end with \$556.73 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$100 is equivalent to \$556.73 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 1973 dollars, the chart below shows how \$100 is worth less over 47 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: 1973-2020
Year Dollar Value Inflation Rate
1973 \$100.00 9.38%
1974 \$112.65 12.65%
1975 \$123.27 9.42%
1976 \$130.20 5.63%
1977 \$142.45 9.40%
1978 \$154.69 8.60%
1979 \$169.80 9.76%
1980 \$188.57 11.06%
1981 \$211.43 12.12%
1982 \$231.02 9.27%
1983 \$241.63 4.59%
1984 \$250.61 3.72%
1985 \$261.63 4.40%
1986 \$272.65 4.21%
1987 \$284.08 4.19%
1988 \$295.10 3.88%
1989 \$310.61 5.26%
1990 \$326.12 4.99%
1991 \$338.37 3.75%
1992 \$345.71 2.17%
1993 \$351.43 1.65%
1994 \$352.24 0.23%
1995 \$358.37 1.74%
1996 \$366.12 2.16%
1997 \$368.98 0.78%
1998 \$372.65 1.00%
1999 \$382.45 2.63%
2000 \$394.69 3.20%
2001 \$397.55 0.72%
2002 \$412.65 3.80%
2003 \$421.22 2.08%
2004 \$430.20 2.13%
2005 \$439.18 2.09%
2006 \$446.53 1.67%
2007 \$457.14 2.38%
2008 \$462.45 1.16%
2009 \$468.57 1.32%
2010 \$479.59 2.35%
2011 \$490.61 2.30%
2012 \$494.69 0.83%
2013 \$500.82 1.24%
2014 \$508.16 1.47%
2015 \$516.33 1.61%
2016 \$524.08 1.50%
2017 \$532.24 1.56%
2018 \$533.88 0.31%
2019 \$544.49 1.99%
2020 \$556.73 2.25%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 41 more rows

This conversion table shows various other 1973 amounts in today's dollars, based on the 456.73% change in prices:

Conversion Table: Value of a dollar today
Initial value Equivalent value
\$1 dollar in 1973 \$5.57 dollars today
\$5 dollars in 1973 \$27.84 dollars today
\$10 dollars in 1973 \$55.67 dollars today
\$50 dollars in 1973 \$278.37 dollars today
\$100 dollars in 1973 \$556.73 dollars today
\$500 dollars in 1973 \$2,783.67 dollars today
\$1,000 dollars in 1973 \$5,567.35 dollars today
\$5,000 dollars in 1973 \$27,836.73 dollars today
\$10,000 dollars in 1973 \$55,673.47 dollars today
\$50,000 dollars in 1973 \$278,367.35 dollars today
\$100,000 dollars in 1973 \$556,734.69 dollars today
\$500,000 dollars in 1973 \$2,783,673.47 dollars today
\$1,000,000 dollars in 1973 \$5,567,346.94 dollars today

## How to Calculate Inflation Rate for \$100 since 1973

Our calculations use the following inflation rate formula to calculate the change in value between 1973 and today:

CPI today CPI in 1973
×
=
Today's value

Then plug in historical CPI values. The Canadian CPI was 24.5 in the year 1973 and 136.4 in 2020:

136.424.5
×
\$100
=
\$556.73

\$100 in 1973 has the same "purchasing power" or "buying power" as \$556.73 in 2020.

To get the total inflation rate for the 47 years between 1973 and 2020, we use the following formula:

CPI in 2020 - CPI in 1973CPI in 1973
×
100
=
Cumulative inflation rate (47 years)

Plugging in the values to this equation, we get:

136.4 - 24.524.5
×
100
=
457%

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

• President Richard Nixon announces the end of the Vietnam War.
• The longest war in American history finishes after William Rogers and Nguyen Duy Trinh of US and North Vietnam's army sign a cease-fire.
• The IRA attacks London for the first time following the arrests of 10 of its members.
• The Senate Watergate Committee begins its hearings.

## 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: “Value of 1973 dollars today | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 26 Sep. 2020, https://www.officialdata.org/canada/inflation/1973?amount=&startYear=&future_pct=.

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.