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Value of 1923 Canadian Dollar today

$100 in 1923
$1,668.26 in 2022

The inflation rate in Canada between 1923 and today has been 1,568.26%, which translates into a total increase of $1,568.26. This means that 100 dollars in 1923 are equivalent to 1,668.26 dollars in 2022. In other words, the purchasing power of $100 in 1923 equals $1,668.26 today. The average annual inflation rate between these periods has been 2.88%.

Inflation timeline in Canada (1923 - 2022)

The following chart depicts the equivalence of $100 due to compound inflation and CPI changes. All values are equivalent in terms of purchasing power, which means that for each year the same goods or services could be bought with the indicated amount of money.

All calculations are performed in the local currency (CAD) and using 6 decimal digits. Results show only up to 2 decimal digits to favour readability. Inflation data is provided by governments and international institutions on a monthly basis. Today's values were extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 1923-2021 1,439.22%
Cumulative inflation 1923-today 1,568.26%
Avg. Annual inflation 1923-2021 2.83%
CPI 1923 7.27
CPI 2021 111.88
CPI 2022-08 (latest official data) 120.57
CPI today 121.26

How to calculate today's value of money after inflation?

There are several ways to calculate the time value of money. Depending on the data available, results can be obtained by using the Consumer Price Index (CPI) formula or the compound interest formula.

Using the CPI formula

When we have both the start and end years, we can use the following formula:

Valuet =Value0 ×
CPIt/CPI0

To obtain the values equivalent in buying power between 1923 and 2021, use the corresponding CPI values:

Value2021
=Value1923 ×
CPI2021/CPI1923
=$ 100 ×
111.88/7.27
$1,539.22

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 121.26:

Valuetoday
=Value1923 ×
CPItoday/CPI1923
=$ 100 ×
121.26/7.27
$1,668.26

Alternative: Using the compound interest formula

Given that money changes with time as a result of an inflation rate that acts as compound interest, we can use the following formula: FV = PV × (1 + i)n, where:

  • FV: Future Value
  • PV: Present Value
  • i: Interest rate (inflation)
  • n: Number of times the interest is compounded (i.e. # of years)

In this case, the future value represents the final amount obtained after applying the inflation rate to our initial value. In other words, it indicates how much are $100 worth today. There are 98 years between 1923 and 2021 and the average inflation rate was 2.8289%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=$100 × (1 + 0.028289)98
$1,539.22

Canada inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1923 $15.39 dollars in 2021
$5 dollars in 1923 $76.96 dollars in 2021
$10 dollars in 1923 $153.92 dollars in 2021
$50 dollars in 1923 $769.61 dollars in 2021
$100 dollars in 1923 $1,539.22 dollars in 2021
$500 dollars in 1923 $7,696.11 dollars in 2021
$1,000 dollars in 1923 $15,392.21 dollars in 2021
$5,000 dollars in 1923 $76,961.06 dollars in 2021
$10,000 dollars in 1923 $153,922.12 dollars in 2021
$50,000 dollars in 1923 $769,610.58 dollars in 2021
$100,000 dollars in 1923 $1,539,221.15 dollars in 2021
$500,000 dollars in 1923 $7,696,105.75 dollars in 2021
$1,000,000 dollars in 1923 $15,392,211.5 dollars in 2021
Cumulative inflation From 1923 1,568.26%
Avg. annual inflation From 1923 2.88%
CPI 1923 7.27
CPI today 121.26

Value of Dollar over time (by year)

Period Value
1923 100
1924 98.1
1925 99.28
1926 100
1927 98.55
1928 99.28
1929 100.27
1930 99.28
1931 89.49
1932 81.07
1933 77.54
1934 78.44
1935 78.8
1936 80.43
1937 83.33
1938 83.79
1939 83.15
1940 86.68
1941 91.85
1942 96.11
1943 98.19
1944 98.82
1945 99.46
1946 102.54
1947 111.78
1948 127.72
1949 132.16
1950 135.69
1951 150
1952 153.89
1953 152.36
1954 153.35
1955 153.62
1956 155.71
1957 160.87
1958 164.67
1959 166.67
1960 168.93
1961 170.65
1962 172.46
1963 175.27
1964 178.62
1965 182.79
1966 189.76
1967 196.56
1968 204.53
1969 213.86
1970 221.01
1971 226.99
1972 238.32
1973 256.16
1974 284.33
1975 314.67
1976 338.41
1977 365.4
1978 398.19
1979 434.6
1980 478.62
1981 538.32
1982 596.29
1983 631.25
1984 658.42
1985 684.51
1986 713.22
1987 744.29
1988 774.28
1989 812.86
1990 851.72
1991 899.64
1992 913.04
1993 930.07
1994 931.61
1995 951.63
1996 966.58
1997 982.25
1998 992.03
1999 1,009.24
2000 1,036.68
2001 1,062.86
2002 1,086.87
2003 1,116.85
2004 1,137.59
2005 1,162.77
2006 1,186.05
2007 1,211.41
2008 1,240.13
2009 1,243.84
2010 1,265.94
2011 1,302.81
2012 1,322.55
2013 1,334.96
2014 1,360.42
2015 1,375.72
2016 1,395.38
2017 1,417.66
2018 1,449.82
2019 1,478.08
2020 1,488.68
2021 1,539.22
2022-08 1,658.7
Today 1,668.26

All available years

Today's value of canadian dollar by year:

1915 | 1916 | 1917 | 1918 | 1919 | 1920 | 1921 | 1922 | 1923 | 1924 | 1925 | 1926 | 1927 | 1928 | 1929 | 1930 | 1931 | 1932 | 1933 | 1934 | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |

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