# \$100 in 2017 is worth \$104.60 today

\$

## Why a dollar today is worth only 96% of a dollar in 2017

Updated: September 11, 2020

According to Statistics Canada consumer price index, today's prices in 2020 are 4.60% higher than average prices since 2017. This means that a dollar today only buys 95.60% of what it could buy in 2017. The Canadian dollar experienced an average inflation rate of 1.51% per year during this period, causing the real value of a dollar to decrease.

In other words, \$100 in 2017 is equivalent in purchasing power to about \$104.60 in 2020, a difference of \$4.60 over 3 years.

The 2017 inflation rate was 1.56%. 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 4.60% Average inflation rate 1.51% Converted amount (\$100 base) \$104.60 Price difference (\$100 base) \$4.60 CPI in 2017 130.400 CPI in 2020 136.400 Inflation in 2017 1.56% Inflation in 2020 2.25%

## Buying power of \$100 in 2017

This chart shows a calculation of buying power equivalence for \$100 in 2017 (price index tracking began in 1914).

For example, if you started with \$100, you would need to end with \$104.60 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$100 is equivalent to \$104.60 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 2017 dollars, the chart below shows how \$100 is worth less over 3 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: 2017-2020
Year Dollar Value Inflation Rate
2017 \$100.00 1.56%
2018 \$100.31 0.31%
2019 \$102.30 1.99%
2020 \$104.60 2.25%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 2017 amounts in today's dollars, based on the 4.60% change in prices:

Conversion Table: Value of a dollar today
Initial value Equivalent value
\$1 dollar in 2017 \$1.05 dollars today
\$5 dollars in 2017 \$5.23 dollars today
\$10 dollars in 2017 \$10.46 dollars today
\$50 dollars in 2017 \$52.30 dollars today
\$100 dollars in 2017 \$104.60 dollars today
\$500 dollars in 2017 \$523.01 dollars today
\$1,000 dollars in 2017 \$1,046.01 dollars today
\$5,000 dollars in 2017 \$5,230.06 dollars today
\$10,000 dollars in 2017 \$10,460.12 dollars today
\$50,000 dollars in 2017 \$52,300.61 dollars today
\$100,000 dollars in 2017 \$104,601.23 dollars today
\$500,000 dollars in 2017 \$523,006.13 dollars today
\$1,000,000 dollars in 2017 \$1,046,012.27 dollars today

## How to Calculate Inflation Rate for \$100 since 2017

Our calculations use the following inflation rate formula to calculate the change in value between 2017 and today:

CPI today CPI in 2017
×
=
Today's value

Then plug in historical CPI values. The Canadian CPI was 130.4 in the year 2017 and 136.4 in 2020:

136.4130.4
×
\$100
=
\$104.60

\$100 in 2017 has the same "purchasing power" or "buying power" as \$104.60 in 2020.

To get the total inflation rate for the 3 years between 2017 and 2020, we use the following formula:

CPI in 2020 - CPI in 2017CPI in 2017
×
100
=
Cumulative inflation rate (3 years)

Plugging in the values to this equation, we get:

136.4 - 130.4130.4
×
100
=
5%

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

• Donald Trump sworn in as the 45th president of the United States.
• Hurricanes Harvey and Irma strike southeast Texas and Florida, causing extensive flooding and damage.
• Gunman kills 58 people at a Las Vegas concert, making it the deadliest mass shooting in modern U.S. history.
• North Korea tests a hydrogen bomb and over a dozen ballistic missiles amidst soaring tensions with the U.S.

## 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 2017 dollars today | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 1 Oct. 2020, https://www.officialdata.org/canada/inflation/2017?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.