Value of 1971 Canadian Dollar today

$100 in 1971

$660.6 in 2018

The inflation rate in Canada between 1971 and today has been 560.6%, which translates into a total increase of $560.6. This means that 100 dollars in 1971 are equivalent to 660.6 dollars in 2018. In other words, the purchasing power of $100 in 1971 equals $660.6 today. The average annual inflation rate has been 4.01%.

Inflation timeline in Canada (1971-2018)

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 (1971-2018) 544.33%
Total Inflation* 560.6%
Annual inflation avg. (1971-2018) 4.04%
Annual inflation avg.* 4.01%
CPI 1971 16.04
CPI 2018 103.34
CPI today* 105.95
$1 in 1971 $6.44 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 47 years between 1971 and 2018 and the average inflation rate has been 4.0117%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = $100 * (1 + 0.04)47 = $644.33

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 1971 was 16.04 and the CPI today is 105.95. Therefore,

Final value = Initial value *
CPI final/CPI initial
= $100 *
103.34/16.04
= $644.33

Canada inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1971 $6.61 dollars today
$5 dollars in 1971 $33.03 dollars today
$10 dollars in 1971 $66.06 dollars today
$50 dollars in 1971 $330.3 dollars today
$100 dollars in 1971 $660.6 dollars today
$500 dollars in 1971 $3,302.99 dollars today
$1,000 dollars in 1971 $6,605.98 dollars today
$5,000 dollars in 1971 $33,029.89 dollars today
$10,000 dollars in 1971 $66,059.78 dollars today
$50,000 dollars in 1971 $330,298.91 dollars today
$100,000 dollars in 1971 $660,597.81 dollars today
$500,000 dollars in 1971 $3,302,989.07 dollars today
$1,000,000 dollars in 1971 $6,605,978.14 dollars today

Value of Dollar in time (by year)

Period Value
1971 100
1972 104.93
1973 110.34
1974 120.69
1975 135.96
1976 148.77
1977 157.14
1978 171.92
1979 186.7
1980 204.93
1981 227.59
1982 255.17
1983 278.82
1984 291.63
1985 302.46
1986 315.76
1987 329.06
1988 342.86
1989 356.16
1990 374.88
1991 393.6
1992 408.37
1993 417.24
1994 424.14
1995 425.12
1996 432.51
1997 441.87
1998 445.32
1999 449.75
2000 461.58
2001 476.35
2002 479.8
2003 498.03
2004 508.37
2005 519.21
2006 530.05
2007 538.92
2008 551.72
2009 558.13
2010 565.52
2011 578.82
2012 592.12
2013 597.04
2014 604.43
2015 613.3
2016 623.15
2017 632.51
2018 644.33
Today 660.6