$1 in 2005 is worth $0.98 in 2004

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Value of $1 from 2005 to 2004

$1 in 2005 is equivalent in purchasing power to about $0.98 in 2004. The dollar had an average inflation rate of 2.21% per year between 2004 and 2005, producing a cumulative price increase of -2.17%.

This means that prices in 2004 are 2.17% lower than average prices in 2005, according to Statistics Canada consumer price index.

The inflation rate in 2004 was 1.86%. The inflation rate in 2005 was 2.21%. The 2005 inflation rate is higher compared to the average inflation rate of 2.10% per year between 2005 and 2026.

⌃
Inflation from 2005 to 2004
Average inflation rate 2.21%
Converted amount
$1 base		 $0.98
Price difference
$1 base		 $-0.02
CPI in 2005 106.975
CPI in 2004 104.658
Inflation in 2004 1.86%
Inflation in 2005 2.21%
$1 in 2005 $0.98 in 2004
Recent CAD inflation
Annual Rate, Statistics Canada CPI
Download

How to calculate inflation rate for $1, 2004 to 2005

Our calculations use the following inflation rate formula to calculate the change in value between 2004 and 2005:

CPI in 2004CPI in 2005
×
2005 CAD value
=
2004 CAD value

Then plug in historical CPI values. The Canadian CPI was 106.975 in the year 2005 and 104.6583333 in 2004:

104.6583333106.975
×
$1
=
$0.98

$1 in 2005 has the same "purchasing power" or "buying power" as $0.98 in 2004.

To get the total inflation rate for the 1 years between 2004 and 2005, we use the following formula:

CPI in 2004 - CPI in 2005CPI in 2005
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

104.6583333 - 106.975106.975
×
100
=
-2%

Frequently asked questions

How much is $1 from 2005 worth in 2004?

$1 in 2005 has about the same buying power as $0.98 in 2004, based on the consumer price index published by Statistics Canada. Prices in 2004 are 2.17% lower than they were in 2005.

What was the inflation rate in 2004?

The Canadian inflation rate in 2004 was 1.86%, measured as the change in the consumer price index from 2003 to 2004. See inflation in 2004 for more detail.

What has the average inflation rate been from 2004 to 2005?

Prices rose by an average of 2.21% per year between 2004 and 2005, a cumulative increase of 2.21%.

How is this calculated?

Divide the CPI in 2004 (104.658) by the CPI in 2005 (106.975), then multiply by the original amount: 104.658 ÷ 106.975 × $1 = $0.98. See the step-by-step formula above.

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 2005 → 2004 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 7 Oct. 2026, https://www.officialdata.org/canada/inflation/2005?amount=1&endYear=2004.

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

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 2005 to 2004
Average inflation rate 2.21%
Converted amount
$1 base		 $0.98
Price difference
$1 base		 $-0.02
CPI in 2005 106.975
CPI in 2004 104.658
Inflation in 2004 1.86%
Inflation in 2005 2.21%
$1 in 2005 $0.98 in 2004