# Value of 1958 Canadian Dollar today

\$100 in 1958

\$895.7 in 2019

The inflation rate in Canada between 1958 and today has been 795.7%, which translates into a total increase of \$795.7. This means that 100 dollars in 1958 are equivalent to 895.7 dollars in 2019. In other words, the purchasing power of \$100 in 1958 equals \$895.7 today. The average annual inflation rate has been 3.6%.

## Inflation timeline in Canada (1958-2019)

The following chart depicts the equivalence of \$100 throughout the years due to 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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1958-2019) 795.3%
Total Inflation* 795.7%
Annual inflation avg. (1958-2019) 3.66%
Annual inflation avg.* 3.6%
CPI 1958 11.77
CPI 2019 105.4
CPI today* 105.45
\$1 in 1958 \$8.95 in 2019

* Values extrapolated from the last official data to obtain today's values.

## 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 compound interest formula or the Consumer Price Index (CPI) formula.

#### Using the compound interest formula

Given that money changes in time as a result of an inflation rate that acts as a compound interest, the following formula can be used: 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 61 years between 1958 and 2019 and the average inflation rate has been 3.5994%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = \$100 * (1 + 0.04)61 = \$895.3

#### Using the CPI formula

When the CPI for both start and end years is known, the following formula can be used:

Final value = Initial value *
CPI final/CPI initial

In this case, the CPI in 1958 was 11.77 and the CPI today is 105.45. Therefore,

Final value = Initial value *
CPI final/CPI initial
= \$100 *
105.4/11.77
= \$895.3

### Canada inflation - Conversion table

Initial Value Equivalent value
\$1 dollar in 1958 \$8.96 dollars today
\$5 dollars in 1958 \$44.78 dollars today
\$10 dollars in 1958 \$89.57 dollars today
\$50 dollars in 1958 \$447.85 dollars today
\$100 dollars in 1958 \$895.7 dollars today
\$500 dollars in 1958 \$4,478.49 dollars today
\$1,000 dollars in 1958 \$8,956.98 dollars today
\$5,000 dollars in 1958 \$44,784.88 dollars today
\$10,000 dollars in 1958 \$89,569.77 dollars today
\$50,000 dollars in 1958 \$447,848.83 dollars today
\$100,000 dollars in 1958 \$895,697.65 dollars today
\$500,000 dollars in 1958 \$4,478,488.27 dollars today
\$1,000,000 dollars in 1958 \$8,956,976.55 dollars today

Period Value
1958 100
1959 102.68
1960 104.03
1961 105.37
1962 105.37
1963 107.38
1964 109.4
1965 111.41
1966 114.77
1967 118.79
1968 123.49
1969 128.86
1970 134.9
1971 136.24
1972 142.95
1973 150.34
1974 164.43
1975 185.23
1976 202.68
1977 214.09
1978 234.23
1979 254.36
1980 279.19
1981 310.07
1982 347.65
1983 379.87
1984 397.32
1985 412.08
1986 430.2
1987 448.32
1988 467.11
1989 485.24
1990 510.74
1991 536.24
1992 556.38
1993 568.46
1994 577.85
1995 579.19
1996 589.26
1997 602.01
1998 606.71
1999 612.75
2000 628.86
2001 648.99
2002 653.69
2003 678.52
2004 692.62
2005 707.38
2006 722.15
2007 734.23
2008 751.68
2009 760.4
2010 770.47
2011 788.59
2012 806.71
2013 813.42
2014 823.49
2015 835.57
2016 848.99
2017 861.75
2018 877.85
2019 895.3
Today 895.7