# \$51,831 in 2014 is worth \$57,201.44 today

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## Value of \$51,831 from 2014 to 2021

\$51,831 in 2014 is equivalent in purchasing power to about \$57,201.44 today, an increase of \$5,370.44 over 7 years. The dollar had an average inflation rate of 1.42% per year between 2014 and today, producing a cumulative price increase of 10.36%.

This means that today's prices are 1.10 times higher than average prices since 2014, according to Statistics Canada consumer price index. A dollar today only buys 90.61% of what it could buy back then.

The 2014 inflation rate was 1.47%. The current year-over-year inflation rate (2020 to 2021) is now 0.73%1. If this number holds, \$51,831 today will be equivalent in buying power to \$52,210.99 next year.

 Cumulative price change 10.36% Average inflation rate 1.42% Converted amount (\$51,831 base) \$57,201.44 Price difference (\$51,831 base) \$5,370.44 CPI in 2014 124.500 CPI in 2021 137.400 Inflation in 2014 1.47% Inflation in 2021 0.73% \$51,831 in 2014 \$57,201.44 in 2021

CAD Inflation since 1914
Annual Rate, Statistics Canada CPI

## Buying power of \$51,831 in 2014

This chart shows a calculation of buying power equivalence for \$51,831 in 2014 (price index tracking began in 1914).

For example, if you started with \$51,831, you would need to end with \$57,201.44 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$51,831 is equivalent to \$57,201.44 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 2014 dollars, the chart below shows how \$51,831 is worth less over 7 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: 2014-2021
Year Dollar Value Inflation Rate
2014 \$51,831.00 1.47%
2015 \$52,663.63 1.61%
2016 \$53,454.62 1.50%
2017 \$54,287.25 1.56%
2018 \$54,453.77 0.31%
2019 \$55,536.19 1.99%
2020 \$56,785.13 2.25%
2021 \$57,201.44 0.73%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 2014 amounts in today's dollars, based on the 10.36% change in prices:

Conversion: 2014 dollars today
Initial value Equivalent value
\$1 dollar in 2014 \$1.10 dollars today
\$5 dollars in 2014 \$5.52 dollars today
\$10 dollars in 2014 \$11.04 dollars today
\$50 dollars in 2014 \$55.18 dollars today
\$100 dollars in 2014 \$110.36 dollars today
\$500 dollars in 2014 \$551.81 dollars today
\$1,000 dollars in 2014 \$1,103.61 dollars today
\$5,000 dollars in 2014 \$5,518.07 dollars today
\$10,000 dollars in 2014 \$11,036.14 dollars today
\$50,000 dollars in 2014 \$55,180.72 dollars today
\$100,000 dollars in 2014 \$110,361.45 dollars today
\$500,000 dollars in 2014 \$551,807.23 dollars today
\$1,000,000 dollars in 2014 \$1,103,614.46 dollars today

## How to Calculate Inflation Rate for \$51,831 since 2014

Our calculations use the following inflation rate formula to calculate the change in value between 2014 and today:

CPI today CPI in 2014
×
=
Today's value

Then plug in historical CPI values. The Canadian CPI was 124.5 in the year 2014 and 137.4 in 2021:

137.4124.5
×
\$51,831
=
\$57,201.44

\$51,831 in 2014 has the same "purchasing power" or "buying power" as \$57,201.44 in 2021.

To get the total inflation rate for the 7 years between 2014 and 2021, we use the following formula:

CPI in 2021 - CPI in 2014CPI in 2014
×
100
=
Cumulative inflation rate (7 years)

Plugging in the values to this equation, we get:

137.4 - 124.5124.5
×
100
=
10%

## News headlines from 2014

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

• Violent protests erupt in Kiev, leading to clashes between protestors and riot police: President Viktor Yanukovych is ousted five days later.
• Russia formally annexes Crimea amid international condemnation.
• ISIS forces occupy government buildings and other key strategic locations in the city of Mosul.
• Malasya Airlines Flight 17 shot down by pro-Russian separatists in Eastern Ukraine by a Buk surface-to-air missile. All 283 passengers and 15 crew were killed.

## 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: “\$51,831 in 2014 → 2021 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 22 Jun. 2021, https://www.officialdata.org/canada/inflation/2014?amount=51831.

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.

#### 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.

 Cumulative price change 10.36% Average inflation rate 1.42% Converted amount (\$51,831 base) \$57,201.44 Price difference (\$51,831 base) \$5,370.44 CPI in 2014 124.500 CPI in 2021 137.400 Inflation in 2014 1.47% Inflation in 2021 0.73% \$51,831 in 2014 \$57,201.44 in 2021