$

Value of 1988 Canadian Dollar today

$100 in 1988
$212.67 in 2022

The inflation rate in Canada between 1988 and today has been 112.67%, which translates into a total increase of $112.67. This means that 100 dollars in 1988 are equivalent to 212.67 dollars in 2022. In other words, the purchasing power of $100 in 1988 equals $212.67 today. The average annual inflation rate between these periods has been 2.24%.

Inflation timeline in Canada (1988 - 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 1988-2021 98.8%
Cumulative inflation 1988-today 112.67%
Avg. Annual inflation 1988-2021 2.1%
CPI 1988 56.28
CPI 2021 111.88
CPI 2022-04 (latest official data) 118.36
CPI today 119.7

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 1988 and 2021, use the corresponding CPI values:

Value2021
=Value1988 ×
CPI2021/CPI1988
=$ 100 ×
111.88/56.28
$198.8

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 119.7:

Valuetoday
=Value1988 ×
CPItoday/CPI1988
=$ 100 ×
119.7/56.28
$212.67

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 33 years between 1988 and 2021 and the average inflation rate was 2.104%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=$100 × (1 + 0.02104)33
$198.8

Canada inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1988 $1.99 dollars in 2021
$5 dollars in 1988 $9.94 dollars in 2021
$10 dollars in 1988 $19.88 dollars in 2021
$50 dollars in 1988 $99.4 dollars in 2021
$100 dollars in 1988 $198.8 dollars in 2021
$500 dollars in 1988 $993.98 dollars in 2021
$1,000 dollars in 1988 $1,987.95 dollars in 2021
$5,000 dollars in 1988 $9,939.75 dollars in 2021
$10,000 dollars in 1988 $19,879.51 dollars in 2021
$50,000 dollars in 1988 $99,397.54 dollars in 2021
$100,000 dollars in 1988 $198,795.09 dollars in 2021
$500,000 dollars in 1988 $993,975.44 dollars in 2021
$1,000,000 dollars in 1988 $1,987,950.88 dollars in 2021
Cumulative inflation From 1988 112.67%
Avg. annual inflation From 1988 2.24%
CPI 1988 56.28
CPI today 119.7

Value of Dollar over time (by year)

Period Value
1988 100
1989 104.98
1990 110
1991 116.19
1992 117.92
1993 120.12
1994 120.32
1995 122.91
1996 124.84
1997 126.86
1998 128.12
1999 130.35
2000 133.89
2001 137.27
2002 140.37
2003 144.24
2004 146.92
2005 150.18
2006 153.18
2007 156.46
2008 160.17
2009 160.65
2010 163.5
2011 168.26
2012 170.81
2013 172.41
2014 175.7
2015 177.68
2016 180.22
2017 183.1
2018 187.25
2019 190.9
2020 192.27
2021 198.8
2022-04 210.29
Today 212.67

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 |

Other currencies: