# \$1 in 2010 is worth \$1.09 in 2016

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## Value of \$1 from 2010 to 2016

According to Statistics Canada consumer price index, prices in 2016 are 9.28% higher than average prices since 2010. The Canadian dollar experienced an average inflation rate of 1.49% per year during this period, causing the real value of a dollar to decrease.

In other words, \$1 in 2010 is equivalent in purchasing power to about \$1.09 in 2016, a difference of \$0.09 over 6 years.

The 2010 inflation rate was 2.35%. The inflation rate in 2016 was 1.50%. The 2016 inflation rate is lower compared to the average inflation rate of 1.52% per year between 2016 and 2020.

 Cumulative price change 9.28% Average inflation rate 1.49% Converted amount (\$1 base) \$1.09 Price difference (\$1 base) \$0.09 CPI in 2010 117.500 CPI in 2016 128.400 Inflation in 2010 2.35% Inflation in 2016 1.50%

## Buying power of \$1 in 2010

This chart shows a calculation of buying power equivalence for \$1 in 2010 (price index tracking began in 1914).

For example, if you started with \$1, you would need to end with \$1.09 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$1 is equivalent to \$1.09 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 2010 dollars, the chart below shows how \$1 is worth less over 6 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: 2010-2016
Year Dollar Value Inflation Rate
2010 \$1.00 2.35%
2011 \$1.02 2.30%
2012 \$1.03 0.83%
2013 \$1.04 1.24%
2014 \$1.06 1.47%
2015 \$1.08 1.61%
2016 \$1.09 1.50%
2017 \$1.11 1.56%
2018 \$1.11 0.31%
2019 \$1.14 1.99%
2020 \$1.16 2.25%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 2010 amounts in 2016 dollars, based on the 9.28% change in prices:

Conversion Table: Value of a dollar in 2016
Initial value Equivalent value
\$1 dollar in 2010 \$1.09 dollars in 2016
\$5 dollars in 2010 \$5.46 dollars in 2016
\$10 dollars in 2010 \$10.93 dollars in 2016
\$50 dollars in 2010 \$54.64 dollars in 2016
\$100 dollars in 2010 \$109.28 dollars in 2016
\$500 dollars in 2010 \$546.38 dollars in 2016
\$1,000 dollars in 2010 \$1,092.77 dollars in 2016
\$5,000 dollars in 2010 \$5,463.83 dollars in 2016
\$10,000 dollars in 2010 \$10,927.66 dollars in 2016
\$50,000 dollars in 2010 \$54,638.30 dollars in 2016
\$100,000 dollars in 2010 \$109,276.60 dollars in 2016
\$500,000 dollars in 2010 \$546,382.98 dollars in 2016
\$1,000,000 dollars in 2010 \$1,092,765.96 dollars in 2016

## How to Calculate Inflation Rate for \$1, 2010 to 2016

Our calculations use the following inflation rate formula to calculate the change in value between 2010 and 2016:

CPI in 2016 CPI in 2010
×
=

Then plug in historical CPI values. The Canadian CPI was 117.5 in the year 2010 and 128.4 in 2016:

128.4117.5
×
\$1
=
\$1.09

\$1 in 2010 has the same "purchasing power" or "buying power" as \$1.09 in 2016.

To get the total inflation rate for the 6 years between 2010 and 2016, we use the following formula:

CPI in 2016 - CPI in 2010CPI in 2010
×
100
=
Cumulative inflation rate (6 years)

Plugging in the values to this equation, we get:

128.4 - 117.5117.5
×
100
=
9%

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

• The Copiapo mining accident in Chile ends, after 33 miners resurface having spent 69 days trapped in the ruins.
• Big Haiti earthquake kills 230,000 people and leaves most of Port-au-Prince, its capital, in ruins.
• An explosion on the Deepwater Horizon (a drilling rig), kills 11 people and spills a massive amount of oil into the Gulf of Mexico.
• The US army abolishes the "Don't Ask Don't Tell" policy, which had banned homosexuals from openly serving in the US military.

## 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 2010 → 2016 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 1 Jun. 2020, https://www.officialdata.org/canada/inflation/2010?amount=1&endYear=2016.

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 9.28% Average inflation rate 1.49% Converted amount (\$1 base) \$1.09 Price difference (\$1 base) \$0.09 CPI in 2010 117.500 CPI in 2016 128.400 Inflation in 2010 2.35% Inflation in 2016 1.50%