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Value of 1994 Canadian Dollar today

$100 in 1994
$180.19 in 2022

The inflation rate in Canada between 1994 and today has been 80.19%, which translates into a total increase of $80.19. This means that 100 dollars in 1994 are equivalent to 180.19 dollars in 2022. In other words, the purchasing power of $100 in 1994 equals $180.19 today. The average annual inflation rate between these periods has been 2.13%.

Inflation timeline in Canada (1994 - 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 1994-2021 65.22%
Cumulative inflation 1994-today 80.19%
Avg. Annual inflation 1994-2021 1.88%
CPI 1994 67.72
CPI 2021 111.88
CPI 2022-10 (latest official data) 121.52
CPI today 122.02

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 1994 and 2021, use the corresponding CPI values:

Value2021
=Value1994 ×
CPI2021/CPI1994
=$ 100 ×
111.88/67.72
$165.22

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 122.02:

Valuetoday
=Value1994 ×
CPItoday/CPI1994
=$ 100 ×
122.02/67.72
$180.19

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 27 years between 1994 and 2021 and the average inflation rate was 1.8771%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=$100 × (1 + 0.018771)27
$165.22

Canada inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1994 $1.65 dollars in 2021
$5 dollars in 1994 $8.26 dollars in 2021
$10 dollars in 1994 $16.52 dollars in 2021
$50 dollars in 1994 $82.61 dollars in 2021
$100 dollars in 1994 $165.22 dollars in 2021
$500 dollars in 1994 $826.11 dollars in 2021
$1,000 dollars in 1994 $1,652.21 dollars in 2021
$5,000 dollars in 1994 $8,261.06 dollars in 2021
$10,000 dollars in 1994 $16,522.12 dollars in 2021
$50,000 dollars in 1994 $82,610.62 dollars in 2021
$100,000 dollars in 1994 $165,221.23 dollars in 2021
$500,000 dollars in 1994 $826,106.17 dollars in 2021
$1,000,000 dollars in 1994 $1,652,212.35 dollars in 2021
Cumulative inflation From 1994 80.19%
Avg. annual inflation From 1994 2.13%
CPI 1994 67.72
CPI today 122.02

Value of Dollar over time (by year)

Period Value
1994 100
1995 102.15
1996 103.75
1997 105.44
1998 106.49
1999 108.33
2000 111.28
2001 114.09
2002 116.67
2003 119.88
2004 122.11
2005 124.81
2006 127.31
2007 130.03
2008 133.12
2009 133.51
2010 135.89
2011 139.84
2012 141.96
2013 143.3
2014 146.03
2015 147.67
2016 149.78
2017 152.17
2018 155.62
2019 158.66
2020 159.8
2021 165.22
2022-10 179.45
Today 180.19

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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