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Value of 1956 Canadian Dollar today

$100 in 1956
$1,078.1 in 2022

The inflation rate in Canada between 1956 and today has been 978.1%, which translates into a total increase of $978.1. This means that 100 dollars in 1956 are equivalent to 1,078.1 dollars in 2022. In other words, the purchasing power of $100 in 1956 equals $1,078.1 today. The average annual inflation rate between these periods has been 3.67%.

Inflation timeline in Canada (1956 - 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 1956-2021 888.54%
Cumulative inflation 1956-today 978.1%
Avg. Annual inflation 1956-2021 3.59%
CPI 1956 11.32
CPI 2021 111.88
CPI 2022-10 (latest official data) 121.52
CPI today 122.02

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 1956 and 2021, use the corresponding CPI values:

Value2021
=Value1956 ×
CPI2021/CPI1956
=$ 100 ×
111.88/11.32
$988.54

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 122.02:

Valuetoday
=Value1956 ×
CPItoday/CPI1956
=$ 100 ×
122.02/11.32
$1,078.1

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 65 years between 1956 and 2021 and the average inflation rate was 3.5876%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=$100 × (1 + 0.035876)65
$988.54

Canada inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1956 $9.89 dollars in 2021
$5 dollars in 1956 $49.43 dollars in 2021
$10 dollars in 1956 $98.85 dollars in 2021
$50 dollars in 1956 $494.27 dollars in 2021
$100 dollars in 1956 $988.54 dollars in 2021
$500 dollars in 1956 $4,942.7 dollars in 2021
$1,000 dollars in 1956 $9,885.4 dollars in 2021
$5,000 dollars in 1956 $49,426.98 dollars in 2021
$10,000 dollars in 1956 $98,853.96 dollars in 2021
$50,000 dollars in 1956 $494,269.82 dollars in 2021
$100,000 dollars in 1956 $988,539.65 dollars in 2021
$500,000 dollars in 1956 $4,942,698.23 dollars in 2021
$1,000,000 dollars in 1956 $9,885,396.46 dollars in 2021
Cumulative inflation From 1956 978.1%
Avg. annual inflation From 1956 3.67%
CPI 1956 11.32
CPI today 122.02

Value of Dollar over time (by year)

Period Value
1956 100
1957 103.32
1958 105.76
1959 107.04
1960 108.49
1961 109.6
1962 110.76
1963 112.57
1964 114.72
1965 117.39
1966 121.87
1967 126.24
1968 131.36
1969 137.35
1970 141.94
1971 145.78
1972 153.05
1973 164.51
1974 182.61
1975 202.09
1976 217.34
1977 234.67
1978 255.73
1979 279.12
1980 307.39
1981 345.72
1982 382.96
1983 405.41
1984 422.86
1985 439.62
1986 458.06
1987 478.01
1988 497.27
1989 522.05
1990 547
1991 577.78
1992 586.39
1993 597.32
1994 598.31
1995 611.17
1996 620.77
1997 630.83
1998 637.11
1999 648.17
2000 665.79
2001 682.61
2002 698.02
2003 717.28
2004 730.6
2005 746.77
2006 761.72
2007 778.01
2008 796.45
2009 798.84
2010 813.03
2011 836.71
2012 849.39
2013 857.36
2014 873.71
2015 883.54
2016 896.16
2017 910.47
2018 931.12
2019 949.27
2020 956.08
2021 988.54
2022-10 1,073.65
Today 1,078.1

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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