Value of 1960 Canadian Dollar today

$100 in 1960

$865.17 in 2018

The inflation rate in Canada between 1960 and today has been 765.17%, which translates into a total increase of $765.17. This means that 100 dollars in 1960 are equivalent to 865.17 dollars in 2018. In other words, the purchasing power of $100 in 1960 equals $865.17 today. The average annual inflation rate has been 3.72%.

Inflation timeline in Canada (1960-2018)

The following chart ilustrates the equivalence of $100 throughout the years due to inflation and CPI changes. All values are equivalent in terms of purchashing 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 (1960-2018) 743.87%
Total Inflation* 765.17%
Annual inflation avg. (1960-2018) 3.75%
Annual inflation avg.* 3.72%
CPI 1960 12.25
CPI 2018 103.34
CPI today* 105.95
$1 in 1960 $8.44 in 2018

* 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 58 years between 1960 and 2018 and the average inflation rate has been 3.7249%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = $100 * (1 + 0.04)58 = $843.87

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 1960 was 12.25 and the CPI today is 105.95. Therefore,

Final value = Initial value *
CPI final/CPI initial
= $100 *
103.34/12.25
= $843.87

Canada inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1960 $8.65 dollars today
$5 dollars in 1960 $43.26 dollars today
$10 dollars in 1960 $86.52 dollars today
$50 dollars in 1960 $432.59 dollars today
$100 dollars in 1960 $865.17 dollars today
$500 dollars in 1960 $4,325.85 dollars today
$1,000 dollars in 1960 $8,651.7 dollars today
$5,000 dollars in 1960 $43,258.51 dollars today
$10,000 dollars in 1960 $86,517.02 dollars today
$50,000 dollars in 1960 $432,585.08 dollars today
$100,000 dollars in 1960 $865,170.17 dollars today
$500,000 dollars in 1960 $4,325,850.84 dollars today
$1,000,000 dollars in 1960 $8,651,701.69 dollars today

Value of Dollar in time (by year)

Period Value
1960 100
1961 101.29
1962 101.29
1963 103.23
1964 105.16
1965 107.1
1966 110.32
1967 114.19
1968 118.71
1969 123.87
1970 129.68
1971 130.97
1972 137.42
1973 144.52
1974 158.06
1975 178.06
1976 194.84
1977 205.81
1978 225.16
1979 244.52
1980 268.39
1981 298.06
1982 334.19
1983 365.16
1984 381.94
1985 396.13
1986 413.55
1987 430.97
1988 449.03
1989 466.45
1990 490.97
1991 515.48
1992 534.84
1993 546.45
1994 555.48
1995 556.77
1996 566.45
1997 578.71
1998 583.23
1999 589.03
2000 604.52
2001 623.87
2002 628.39
2003 652.26
2004 665.81
2005 680
2006 694.19
2007 705.81
2008 722.58
2009 730.97
2010 740.65
2011 758.06
2012 775.48
2013 781.94
2014 791.61
2015 803.23
2016 816.13
2017 828.39
2018 843.87
Today 865.17