$1 in 1978 is worth $0.82 in 1978

Value of $1 from 1980 to 1978

According to Statistics Canada consumer price index, prices in 1978 are 17.97% lower than average prices since 1980. The Canadian dollar experienced an average inflation rate of 10.41% per year during this period, causing the real value of a dollar to decrease.

In other words, $1 in 1980 is equivalent in purchasing power to about $0.82 in 1978, a difference of $-0.18 over 2 years.

The 1978 inflation rate was 8.60%. The inflation rate in 1980 was 11.06%. The 1980 inflation rate is higher compared to the average inflation rate of 2.74% per year between 1980 and 2020.


Inflation from 1980 to 1978
Cumulative price change -17.97%
Average inflation rate 10.41%
Converted amount ($1 base) $0.82
Price difference ($1 base) $-0.18
CPI in 1980 46.200
CPI in 1978 37.900
Inflation in 1978 8.60%
Inflation in 1980 11.06%

CAD Inflation since 1914
Annual Rate, Statistics Canada CPI
Download

Buying power of $1 in 1978

This chart shows a calculation of buying power equivalence for $1 in 1978 (price index tracking began in 1914).

For example, if you started with $1, you would need to end with $0.82 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $1 is equivalent to $0.82 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 1978 dollars, the chart below shows how $1 is worth less over 2 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: 1978-1980
Year Dollar Value Inflation Rate
1978 $1.00 8.60%
1979 $1.10 9.76%
1980 $1.22 11.06%
1981 $1.37 12.12%
1982 $1.49 9.27%
1983 $1.56 4.59%
1984 $1.62 3.72%
1985 $1.69 4.40%
1986 $1.76 4.21%
1987 $1.84 4.19%
1988 $1.91 3.88%
1989 $2.01 5.26%
1990 $2.11 4.99%
1991 $2.19 3.75%
1992 $2.23 2.17%
1993 $2.27 1.65%
1994 $2.28 0.23%
1995 $2.32 1.74%
1996 $2.37 2.16%
1997 $2.39 0.78%
1998 $2.41 1.00%
1999 $2.47 2.63%
2000 $2.55 3.20%
2001 $2.57 0.72%
2002 $2.67 3.80%
2003 $2.72 2.08%
2004 $2.78 2.13%
2005 $2.84 2.09%
2006 $2.89 1.67%
2007 $2.96 2.38%
2008 $2.99 1.16%
2009 $3.03 1.32%
2010 $3.10 2.35%
2011 $3.17 2.30%
2012 $3.20 0.83%
2013 $3.24 1.24%
2014 $3.28 1.47%
2015 $3.34 1.61%
2016 $3.39 1.50%
2017 $3.44 1.56%
2018 $3.45 0.31%
2019 $3.52 1.99%
2020 $3.60 2.25%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 1978 amounts in 1980 dollars, based on the -17.97% change in prices:

Conversion Table: Value of a dollar in 1980
Initial value Equivalent value
$1 dollar in 1978 $1.22 dollars in 1980
$5 dollars in 1978 $6.09 dollars in 1980
$10 dollars in 1978 $12.19 dollars in 1980
$50 dollars in 1978 $60.95 dollars in 1980
$100 dollars in 1978 $121.90 dollars in 1980
$500 dollars in 1978 $609.50 dollars in 1980
$1,000 dollars in 1978 $1,219.00 dollars in 1980
$5,000 dollars in 1978 $6,094.99 dollars in 1980
$10,000 dollars in 1978 $12,189.97 dollars in 1980
$50,000 dollars in 1978 $60,949.87 dollars in 1980
$100,000 dollars in 1978 $121,899.74 dollars in 1980
$500,000 dollars in 1978 $609,498.68 dollars in 1980
$1,000,000 dollars in 1978 $1,218,997.36 dollars in 1980

How to Calculate Inflation Rate for $1, 1978 to 1980

Our calculations use the following inflation rate formula to calculate the change in value between 1978 and 1980:

CPI in 1978 CPI in 1980
×
1980 CAD value
=
1978 CAD value

Then plug in historical CPI values. The Canadian CPI was 46.2 in the year 1980 and 37.9 in 1978:

37.946.2
×
$1
=
$0.82

$1 in 1980 has the same "purchasing power" or "buying power" as $0.82 in 1978.

To get the total inflation rate for the 2 years between 1978 and 1980, we use the following formula:

CPI in 1978 - CPI in 1980CPI in 1980
×
100
=
Cumulative inflation rate (2 years)

Plugging in the values to this equation, we get:

37.9 - 46.246.2
×
100
=
-18%

News headlines from 1978

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

  • Princess Victoria is crowned Princess of Sweden.
  • Iranian protesters storm the Russian embassy in Iran.
  • Abdou Diouf is elected president of Senegal after being Prime Minister for ten years.
  • Cable News Network (CNN) is transmitted for the first time.
  • Saddam Hussein, President of Iraq, declares a holy war on Iran.

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 1980 → 1978 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 4 Jun. 2020, https://www.officialdata.org/canada/inflation/1980?amount=1&endYear=1978.

Special thanks to QuickChart for providing downloadable chart images.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


Ian Webster

About the author

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.

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Inflation from 1980 to 1978
Cumulative price change -17.97%
Average inflation rate 10.41%
Converted amount ($1 base) $0.82
Price difference ($1 base) $-0.18
CPI in 1980 46.200
CPI in 1978 37.900
Inflation in 1978 8.60%
Inflation in 1980 11.06%