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Value of 1942 Canadian Dollar today

$100 in 1942
$1,735.2 in 2022

The inflation rate in Canada between 1942 and today has been 1,635.2%, which translates into a total increase of $1,635.2. This means that 100 dollars in 1942 are equivalent to 1,735.2 dollars in 2022. In other words, the purchasing power of $100 in 1942 equals $1,735.2 today. The average annual inflation rate between these periods has been 3.63%.

Inflation timeline in Canada (1942 - 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 1942-2021 1,501.6%
Cumulative inflation 1942-today 1,635.2%
Avg. Annual inflation 1942-2021 3.57%
CPI 1942 6.99
CPI 2021 111.88
CPI 2022-08 (latest official data) 120.57
CPI today 121.22

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 1942 and 2021, use the corresponding CPI values:

Value2021
=Value1942 ×
CPI2021/CPI1942
=$ 100 ×
111.88/6.99
$1,601.6

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 121.22:

Valuetoday
=Value1942 ×
CPItoday/CPI1942
=$ 100 ×
121.22/6.99
$1,735.2

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 79 years between 1942 and 2021 and the average inflation rate was 3.5732%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=$100 × (1 + 0.035732)79
$1,601.6

Canada inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1942 $16.02 dollars in 2021
$5 dollars in 1942 $80.08 dollars in 2021
$10 dollars in 1942 $160.16 dollars in 2021
$50 dollars in 1942 $800.8 dollars in 2021
$100 dollars in 1942 $1,601.6 dollars in 2021
$500 dollars in 1942 $8,008.01 dollars in 2021
$1,000 dollars in 1942 $16,016.03 dollars in 2021
$5,000 dollars in 1942 $80,080.13 dollars in 2021
$10,000 dollars in 1942 $160,160.26 dollars in 2021
$50,000 dollars in 1942 $800,801.29 dollars in 2021
$100,000 dollars in 1942 $1,601,602.57 dollars in 2021
$500,000 dollars in 1942 $8,008,012.85 dollars in 2021
$1,000,000 dollars in 1942 $16,016,025.7 dollars in 2021
Cumulative inflation From 1942 1,635.2%
Avg. annual inflation From 1942 3.63%
CPI 1942 6.99
CPI today 121.22

Value of Dollar over time (by year)

Period Value
1942 100
1943 102.17
1944 102.83
1945 103.49
1946 106.69
1947 116.31
1948 132.89
1949 137.51
1950 141.19
1951 156.08
1952 160.13
1953 158.53
1954 159.57
1955 159.85
1956 162.02
1957 167.39
1958 171.35
1959 173.42
1960 175.78
1961 177.57
1962 179.45
1963 182.38
1964 185.86
1965 190.2
1966 197.46
1967 204.52
1968 212.82
1969 222.53
1970 229.97
1971 236.19
1972 247.97
1973 266.54
1974 295.85
1975 327.43
1976 352.12
1977 380.21
1978 414.33
1979 452.21
1980 498.02
1981 560.13
1982 620.45
1983 656.83
1984 685.11
1985 712.25
1986 742.13
1987 774.46
1988 805.66
1989 845.81
1990 886.24
1991 936.1
1992 950.05
1993 967.77
1994 969.37
1995 990.2
1996 1,005.75
1997 1,022.05
1998 1,032.23
1999 1,050.14
2000 1,078.7
2001 1,105.94
2002 1,130.91
2003 1,162.11
2004 1,183.69
2005 1,209.9
2006 1,234.12
2007 1,260.51
2008 1,290.39
2009 1,294.25
2010 1,317.25
2011 1,355.61
2012 1,376.15
2013 1,389.07
2014 1,415.55
2015 1,431.48
2016 1,451.93
2017 1,475.12
2018 1,508.58
2019 1,537.98
2020 1,549.01
2021 1,601.6
2022-08 1,725.92
Today 1,735.2

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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