# Value of 1959 Canadian Dollar today

\$100 in 1959

\$898.35 in 2021

The inflation rate in Canada between 1959 and today has been 798.35%, which translates into a total increase of \$798.35. This means that 100 dollars in 1959 are equivalent to 898.35 dollars in 2021. In other words, the purchasing power of \$100 in 1959 equals \$898.35 today. The average annual inflation rate has been 3.55%.

## Inflation timeline in Canada (1959-2021)

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 (1959-2021) 798.04%
Total Inflation* 798.35%
Annual inflation avg. (1959-2021) 3.6%
Annual inflation avg.* 3.55%
CPI 1959 12.09
CPI 2021 108.56
CPI today* 108.6
\$1 in 1959 \$8.98 in 2021

* 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 with 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 62 years between 1959 and 2021 and the average inflation rate has been 3.5462%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = \$100 * (1 + 0.04)62 = \$898.04

#### 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 1959 was 12.09 and the CPI today is 108.6. Therefore,

Final value = Initial value *
CPI final/CPI initial
= \$100 *
108.56/12.09
= \$898.04

### Canada inflation - Conversion table

Initial Value Equivalent value
\$1 dollar in 1959 \$8.98 dollars today
\$5 dollars in 1959 \$44.92 dollars today
\$10 dollars in 1959 \$89.84 dollars today
\$50 dollars in 1959 \$449.18 dollars today
\$100 dollars in 1959 \$898.35 dollars today
\$500 dollars in 1959 \$4,491.75 dollars today
\$1,000 dollars in 1959 \$8,983.5 dollars today
\$5,000 dollars in 1959 \$44,917.51 dollars today
\$10,000 dollars in 1959 \$89,835.03 dollars today
\$50,000 dollars in 1959 \$449,175.14 dollars today
\$100,000 dollars in 1959 \$898,350.28 dollars today
\$500,000 dollars in 1959 \$4,491,751.4 dollars today
\$1,000,000 dollars in 1959 \$8,983,502.8 dollars today

Period Value
1959 100
1960 101.31
1961 102.61
1962 102.61
1963 104.58
1964 106.54
1965 108.5
1966 111.76
1967 115.69
1968 120.26
1969 125.49
1970 131.37
1971 132.68
1972 139.22
1973 146.41
1974 160.13
1975 180.39
1976 197.39
1977 208.5
1978 228.1
1979 247.71
1980 271.9
1981 301.96
1982 338.56
1983 369.93
1984 386.93
1985 401.31
1986 418.95
1987 436.6
1988 454.9
1989 472.55
1990 497.39
1991 522.22
1992 541.83
1993 553.59
1994 562.75
1995 564.05
1996 573.86
1997 586.27
1998 590.85
1999 596.73
2000 612.42
2001 632.03
2002 636.6
2003 660.78
2004 674.51
2005 688.89
2006 703.27
2007 715.03
2008 732.03
2009 740.52
2010 750.33
2011 767.97
2012 785.62
2013 792.16
2014 801.96
2015 813.73
2016 826.8
2017 839.22
2018 854.9
2019 871.9
2020 891.5
2021 898.04
Today 898.35