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Value of 1971 Canadian Dollar today

$100 in 1971
$725.17 in 2022

The inflation rate in Canada between 1971 and today has been 625.17%, which translates into a total increase of $625.17. This means that 100 dollars in 1971 are equivalent to 725.17 dollars in 2022. In other words, the purchasing power of $100 in 1971 equals $725.17 today. The average annual inflation rate between these periods has been 3.96%.

Inflation timeline in Canada (1971 - 2022)

The following chart depicts the equivalence of $100 due to compound 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 extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 1971-2021 578.09%
Cumulative inflation 1971-today 625.17%
Avg. Annual inflation 1971-2021 3.9%
CPI 1971 16.5
CPI 2021 111.88
CPI 2022-04 (latest official data) 118.36
CPI today 119.65

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

Using the CPI formula

When we have both the start and end years, we can use the following formula:

Valuet =Value0 ×
CPIt/CPI0

To obtain the values equivalent in buying power between 1971 and 2021, use the corresponding CPI values:

Value2021
=Value1971 ×
CPI2021/CPI1971
=$ 100 ×
111.88/16.5
$678.09

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 119.65:

Valuetoday
=Value1971 ×
CPItoday/CPI1971
=$ 100 ×
119.65/16.5
$725.17

Alternative: Using the compound interest formula

Given that money changes with time as a result of an inflation rate that acts as compound interest, we can use the following formula: 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 50 years between 1971 and 2021 and the average inflation rate was 3.9024%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=$100 × (1 + 0.039024)50
$678.09

Canada inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1971 $6.78 dollars in 2021
$5 dollars in 1971 $33.9 dollars in 2021
$10 dollars in 1971 $67.81 dollars in 2021
$50 dollars in 1971 $339.05 dollars in 2021
$100 dollars in 1971 $678.09 dollars in 2021
$500 dollars in 1971 $3,390.46 dollars in 2021
$1,000 dollars in 1971 $6,780.93 dollars in 2021
$5,000 dollars in 1971 $33,904.63 dollars in 2021
$10,000 dollars in 1971 $67,809.26 dollars in 2021
$50,000 dollars in 1971 $339,046.31 dollars in 2021
$100,000 dollars in 1971 $678,092.62 dollars in 2021
$500,000 dollars in 1971 $3,390,463.08 dollars in 2021
$1,000,000 dollars in 1971 $6,780,926.15 dollars in 2021
Cumulative inflation From 1971 625.17%
Avg. annual inflation From 1971 3.96%
CPI 1971 16.5
CPI today 119.65

Value of Dollar over time (by year)

Period Value
1971 100
1972 104.99
1973 112.85
1974 125.26
1975 138.63
1976 149.08
1977 160.97
1978 175.42
1979 191.46
1980 210.85
1981 237.15
1982 262.69
1983 278.09
1984 290.06
1985 301.56
1986 314.21
1987 327.89
1988 341.1
1989 358.1
1990 375.22
1991 396.33
1992 402.23
1993 409.74
1994 410.41
1995 419.23
1996 425.82
1997 432.72
1998 437.03
1999 444.61
2000 456.7
2001 468.24
2002 478.81
2003 492.02
2004 501.16
2005 512.25
2006 522.51
2007 533.68
2008 546.33
2009 547.96
2010 557.7
2011 573.94
2012 582.64
2013 588.11
2014 599.32
2015 606.07
2016 614.72
2017 624.54
2018 638.71
2019 651.16
2020 655.83
2021 678.09
2022-04 717.32
Today 725.17

All available years

Today's value of canadian dollar by year:

1915 | 1916 | 1917 | 1918 | 1919 | 1920 | 1921 | 1922 | 1923 | 1924 | 1925 | 1926 | 1927 | 1928 | 1929 | 1930 | 1931 | 1932 | 1933 | 1934 | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |

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