Value of 1962 Canadian Dollar today

$100 in 1962

$854.15 in 2018

The inflation rate in Canada between 1962 and today has been 754.15%, which translates into a total increase of $754.15. This means that 100 dollars in 1962 are equivalent to 854.15 dollars in 2018. In other words, the purchasing power of $100 in 1962 equals $854.15 today. The average annual inflation rate has been 3.83%.

Inflation timeline in Canada (1962-2018)

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 (1962-2018) 733.12%
Total Inflation* 754.15%
Annual inflation avg. (1962-2018) 3.86%
Annual inflation avg.* 3.83%
CPI 1962 12.4
CPI 2018 103.34
CPI today* 105.95
$1 in 1962 $8.33 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 56 years between 1962 and 2018 and the average inflation rate has been 3.8347%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = $100 * (1 + 0.04)56 = $833.12

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 1962 was 12.4 and the CPI today is 105.95. Therefore,

Final value = Initial value *
CPI final/CPI initial
= $100 *
103.34/12.4
= $833.12

Canada inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1962 $8.54 dollars today
$5 dollars in 1962 $42.71 dollars today
$10 dollars in 1962 $85.41 dollars today
$50 dollars in 1962 $427.07 dollars today
$100 dollars in 1962 $854.15 dollars today
$500 dollars in 1962 $4,270.74 dollars today
$1,000 dollars in 1962 $8,541.49 dollars today
$5,000 dollars in 1962 $42,707.44 dollars today
$10,000 dollars in 1962 $85,414.89 dollars today
$50,000 dollars in 1962 $427,074.43 dollars today
$100,000 dollars in 1962 $854,148.86 dollars today
$500,000 dollars in 1962 $4,270,744.29 dollars today
$1,000,000 dollars in 1962 $8,541,488.57 dollars today

Value of Dollar in time (by year)

Period Value
1962 100
1963 101.91
1964 103.82
1965 105.73
1966 108.92
1967 112.74
1968 117.2
1969 122.29
1970 128.03
1971 129.3
1972 135.67
1973 142.68
1974 156.05
1975 175.8
1976 192.36
1977 203.18
1978 222.29
1979 241.4
1980 264.97
1981 294.27
1982 329.94
1983 360.51
1984 377.07
1985 391.08
1986 408.28
1987 425.48
1988 443.31
1989 460.51
1990 484.71
1991 508.92
1992 528.03
1993 539.49
1994 548.41
1995 549.68
1996 559.24
1997 571.34
1998 575.8
1999 581.53
2000 596.82
2001 615.92
2002 620.38
2003 643.95
2004 657.32
2005 671.34
2006 685.35
2007 696.82
2008 713.38
2009 721.66
2010 731.21
2011 748.41
2012 765.61
2013 771.97
2014 781.53
2015 792.99
2016 805.73
2017 817.83
2018 833.12
Today 854.15