# Value of 1966 Canadian Dollar today

\$100 in 1966

\$803.88 in 2021

The inflation rate in Canada between 1966 and today has been 703.88%, which translates into a total increase of \$703.88. This means that 100 dollars in 1966 are equivalent to 803.88 dollars in 2021. In other words, the purchasing power of \$100 in 1966 equals \$803.88 today. The average annual inflation rate has been 3.79%.

## Inflation timeline in Canada (1966-2021)

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 (1966-2021) 703.51%
Total Inflation* 703.88%
Annual inflation avg. (1966-2021) 3.86%
Annual inflation avg.* 3.79%
CPI 1966 13.51
CPI 2021 108.56
CPI today* 108.61
\$1 in 1966 \$8.04 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 55 years between 1966 and 2021 and the average inflation rate has been 3.7921%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = \$100 * (1 + 0.04)55 = \$803.51

#### 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 1966 was 13.51 and the CPI today is 108.61. Therefore,

Final value = Initial value *
CPI final/CPI initial
= \$100 *
108.56/13.51
= \$803.51

### Canada inflation - Conversion table

Initial Value Equivalent value
\$1 dollar in 1966 \$8.04 dollars today
\$5 dollars in 1966 \$40.19 dollars today
\$10 dollars in 1966 \$80.39 dollars today
\$50 dollars in 1966 \$401.94 dollars today
\$100 dollars in 1966 \$803.88 dollars today
\$500 dollars in 1966 \$4,019.42 dollars today
\$1,000 dollars in 1966 \$8,038.85 dollars today
\$5,000 dollars in 1966 \$40,194.25 dollars today
\$10,000 dollars in 1966 \$80,388.5 dollars today
\$50,000 dollars in 1966 \$401,942.5 dollars today
\$100,000 dollars in 1966 \$803,884.99 dollars today
\$500,000 dollars in 1966 \$4,019,424.97 dollars today
\$1,000,000 dollars in 1966 \$8,038,849.94 dollars today

Period Value
1966 100
1967 103.51
1968 107.6
1969 112.28
1970 117.54
1971 118.71
1972 124.56
1973 130.99
1974 143.27
1975 161.4
1976 176.61
1977 186.55
1978 204.09
1979 221.64
1980 243.27
1981 270.18
1982 302.92
1983 330.99
1984 346.2
1985 359.06
1986 374.85
1987 390.64
1988 407.02
1989 422.81
1990 445.03
1991 467.25
1992 484.8
1993 495.32
1994 503.51
1995 504.68
1996 513.45
1997 524.56
1998 528.65
1999 533.92
2000 547.95
2001 565.5
2002 569.59
2003 591.23
2004 603.51
2005 616.37
2006 629.24
2007 639.77
2008 654.97
2009 662.57
2010 671.34
2011 687.13
2012 702.92
2013 708.77
2014 717.54
2015 728.07
2016 739.77
2017 750.88
2018 764.91
2019 780.12
2020 797.66
2021 803.51
Today 803.88