Value of 1978 Canadian Dollar today

$100 in 1978

$384.24 in 2018

The inflation rate in Canada between 1978 and today has been 284.24%, which translates into a total increase of $284.24. This means that 100 dollars in 1978 are equivalent to 384.24 dollars in 2018. In other words, the purchasing power of $100 in 1978 equals $384.24 today. The average annual inflation rate has been 3.34%.

Inflation timeline in Canada (1978-2018)

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 (1978-2018) 274.78%
Total Inflation* 284.24%
Annual inflation avg. (1978-2018) 3.36%
Annual inflation avg.* 3.34%
CPI 1978 27.57
CPI 2018 103.34
CPI today* 105.95
$1 in 1978 $3.75 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 40 years between 1978 and 2018 and the average inflation rate has been 3.3377%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = $100 * (1 + 0.03)40 = $374.78

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 1978 was 27.57 and the CPI today is 105.95. Therefore,

Final value = Initial value *
CPI final/CPI initial
= $100 *
103.34/27.57
= $374.78

Canada inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1978 $3.84 dollars today
$5 dollars in 1978 $19.21 dollars today
$10 dollars in 1978 $38.42 dollars today
$50 dollars in 1978 $192.12 dollars today
$100 dollars in 1978 $384.24 dollars today
$500 dollars in 1978 $1,921.22 dollars today
$1,000 dollars in 1978 $3,842.45 dollars today
$5,000 dollars in 1978 $19,212.23 dollars today
$10,000 dollars in 1978 $38,424.46 dollars today
$50,000 dollars in 1978 $192,122.32 dollars today
$100,000 dollars in 1978 $384,244.63 dollars today
$500,000 dollars in 1978 $1,921,223.15 dollars today
$1,000,000 dollars in 1978 $3,842,446.3 dollars today

Value of Dollar in time (by year)

Period Value
1978 100
1979 108.6
1980 119.2
1981 132.38
1982 148.42
1983 162.18
1984 169.63
1985 175.93
1986 183.67
1987 191.4
1988 199.43
1989 207.16
1990 218.05
1991 228.94
1992 237.54
1993 242.69
1994 246.7
1995 247.28
1996 251.58
1997 257.02
1998 259.03
1999 261.6
2000 268.48
2001 277.08
2002 279.08
2003 289.68
2004 295.7
2005 302.01
2006 308.31
2007 313.47
2008 320.92
2009 324.64
2010 328.94
2011 336.68
2012 344.41
2013 347.28
2014 351.58
2015 356.73
2016 362.46
2017 367.91
2018 374.78
Today 384.24