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Value of 1924 Canadian Dollar today

$100 in 1924
$1,668.76 in 2022

The inflation rate in Canada between 1924 and today has been 1,568.76%, which translates into a total increase of $1,568.76. This means that 100 dollars in 1924 are equivalent to 1,668.76 dollars in 2022. In other words, the purchasing power of $100 in 1924 equals $1,668.76 today. The average annual inflation rate between these periods has been 2.91%.

Inflation timeline in Canada (1924 - 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 1924-2021 1,469.07%
Cumulative inflation 1924-today 1,568.76%
Avg. Annual inflation 1924-2021 2.88%
CPI 1924 7.13
CPI 2021 111.88
CPI 2022-04 (latest official data) 118.36
CPI today 118.99

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 1924 and 2021, use the corresponding CPI values:

Value2021
=Value1924 ×
CPI2021/CPI1924
=$ 100 ×
111.88/7.13
$1,569.07

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 118.99:

Valuetoday
=Value1924 ×
CPItoday/CPI1924
=$ 100 ×
118.99/7.13
$1,668.76

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 97 years between 1924 and 2021 and the average inflation rate was 2.8789%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=$100 × (1 + 0.028789)97
$1,569.07

Canada inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1924 $15.69 dollars in 2021
$5 dollars in 1924 $78.45 dollars in 2021
$10 dollars in 1924 $156.91 dollars in 2021
$50 dollars in 1924 $784.53 dollars in 2021
$100 dollars in 1924 $1,569.07 dollars in 2021
$500 dollars in 1924 $7,845.34 dollars in 2021
$1,000 dollars in 1924 $15,690.68 dollars in 2021
$5,000 dollars in 1924 $78,453.38 dollars in 2021
$10,000 dollars in 1924 $156,906.75 dollars in 2021
$50,000 dollars in 1924 $784,533.76 dollars in 2021
$100,000 dollars in 1924 $1,569,067.53 dollars in 2021
$500,000 dollars in 1924 $7,845,337.65 dollars in 2021
$1,000,000 dollars in 1924 $15,690,675.3 dollars in 2021
Cumulative inflation From 1924 1,568.76%
Avg. annual inflation From 1924 2.91%
CPI 1924 7.13
CPI today 118.99

Value of Dollar over time (by year)

Period Value
1924 100
1925 101.2
1926 101.94
1927 100.46
1928 101.2
1929 102.22
1930 101.2
1931 91.23
1932 82.64
1933 79.04
1934 79.96
1935 80.33
1936 81.99
1937 84.95
1938 85.41
1939 84.76
1940 88.37
1941 93.63
1942 97.97
1943 100.09
1944 100.74
1945 101.39
1946 104.52
1947 113.94
1948 130.19
1949 134.72
1950 138.32
1951 152.91
1952 156.88
1953 155.31
1954 156.33
1955 156.6
1956 158.73
1957 163.99
1958 167.87
1959 169.9
1960 172.21
1961 173.96
1962 175.81
1963 178.67
1964 182.09
1965 186.33
1966 193.44
1967 200.37
1968 208.49
1969 218.01
1970 225.3
1971 231.39
1972 242.94
1973 261.13
1974 289.84
1975 320.78
1976 344.97
1977 372.48
1978 405.91
1979 443.03
1980 487.9
1981 548.75
1982 607.85
1983 643.49
1984 671.19
1985 697.78
1986 727.05
1987 758.73
1988 789.29
1989 828.62
1990 868.24
1991 917.08
1992 930.75
1993 948.11
1994 949.68
1995 970.08
1996 985.32
1997 1,001.29
1998 1,011.26
1999 1,028.81
2000 1,056.79
2001 1,083.47
2002 1,107.94
2003 1,138.5
2004 1,159.65
2005 1,185.32
2006 1,209.05
2007 1,234.9
2008 1,264.17
2009 1,267.96
2010 1,290.49
2011 1,328.07
2012 1,348.2
2013 1,360.85
2014 1,386.8
2015 1,402.4
2016 1,422.44
2017 1,445.15
2018 1,477.93
2019 1,506.74
2020 1,517.54
2021 1,569.07
2022-04 1,659.83
Today 1,668.76

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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