Value of $1 from 2020 to 2021
$1 in 2020 is equivalent in purchasing power to about $1.03 in 2021. The dollar had an average inflation rate of 3.40% per year between 2020 and 2021, producing a cumulative price increase of 3.40%.
This means that prices in 2021 are 1.03 times as high as average prices in 2020, according to Statistics Canada consumer price index.
The inflation rate in 2020 was 0.72%. The inflation rate in 2021 was 3.40%. The 2021 inflation rate is higher compared to the average inflation rate of 3.15% per year between 2021 and 2026.
⌃
| Average inflation rate | 3.40% |
|
Converted amount
$1 base | $1.03 |
|
Price difference
$1 base | $0.03 |
| CPI in 2020 | 136.958 |
| CPI in 2021 | 141.608 |
| Inflation in 2020 | 0.72% |
| Inflation in 2021 | 3.40% |
| $1 in 2020 | $1.03 in 2021 |
How to calculate inflation rate for $1, 2020 to 2021
Our calculations use the following inflation rate formula to calculate the change in value between 2020 and 2021:
CPI in 2021CPI in 2020
×
2020 CAD value
=
2021 CAD value
Then plug in historical CPI values. The Canadian CPI was 136.95833333333334 in the year 2020 and 141.60833333333335 in 2021:
141.60833333333335136.95833333333334
×
$1
=
$1.03
$1 in 2020 has the same "purchasing power" or "buying power" as $1.03 in 2021.
To get the total inflation rate for the 1 years between 2020 and 2021, we use the following formula:
CPI in 2021 - CPI in 2020CPI in 2020
×
100
=
Cumulative inflation rate (1 years)
Plugging in the values to this equation, we get:
141.60833333333335 - 136.95833333333334136.95833333333334
×
100
=
3%
Frequently asked questions
How much is $1 from 2020 worth in 2021?
$1 in 2020 has about the same buying power as $1.03 in 2021, based on the consumer price index published by Statistics Canada. Prices in 2021 are 1.03 times as high as they were in 2020.
What was the inflation rate in 2020?
The Canadian inflation rate in 2020 was 0.72%, measured as the change in the consumer price index from 2019 to 2020. See inflation in 2020 for more detail.
What has the average inflation rate been from 2020 to 2021?
Prices rose by an average of 3.40% per year between 2020 and 2021, a cumulative increase of 3.40%.
How is this calculated?
Divide the CPI in 2021 (141.608) by the CPI in 2020 (136.958), then multiply by the original amount: 141.608 ÷ 136.958 × $1 = $1.03. 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 2020 → 2021 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 7 Oct. 2026, https://www.officialdata.org/canada/inflation/2020?amount=1&endYear=2021.
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.
| Average inflation rate | 3.40% |
|
Converted amount
$1 base | $1.03 |
|
Price difference
$1 base | $0.03 |
| CPI in 2020 | 136.958 |
| CPI in 2021 | 141.608 |
| Inflation in 2020 | 0.72% |
| Inflation in 2021 | 3.40% |
| $1 in 2020 | $1.03 in 2021 |