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Value of 1996 Canadian Dollar today

$100 in 1996
$178.63 in 2024

The inflation rate in Canada between 1996 and today has been 78.63%, which translates into a total increase of $78.63. This means that 100 dollars in 1996 are equivalent to 178.63 dollars in 2024. In other words, the purchasing power of $100 in 1996 equals $178.63 today. The average annual inflation rate between these periods has been 2.09%.

Inflation timeline in Canada (1996 - 2024)

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 1996-2023 76.68%
Cumulative inflation 1996-today 78.63%
Avg. Annual inflation 1996-2023 2.13%
CPI 1996 70.26
CPI 2023 124.13
CPI 2023-12 (latest official data) 125.07
CPI today 125.5

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 1996 and 2023, use the corresponding CPI values:

Value2023
=Value1996 ×
CPI2023/CPI1996
=$ 100 ×
124.13/70.26
$176.68

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 125.5:

Valuetoday
=Value1996 ×
CPItoday/CPI1996
=$ 100 ×
125.5/70.26
$178.63

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 1996 and 2023 and the average inflation rate was 2.1303%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$100 × (1 + 0.021303)27
$176.68

Canada inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1996 $1.77 dollars in 2023
$5 dollars in 1996 $8.83 dollars in 2023
$10 dollars in 1996 $17.67 dollars in 2023
$50 dollars in 1996 $88.34 dollars in 2023
$100 dollars in 1996 $176.68 dollars in 2023
$500 dollars in 1996 $883.38 dollars in 2023
$1,000 dollars in 1996 $1,766.75 dollars in 2023
$5,000 dollars in 1996 $8,833.76 dollars in 2023
$10,000 dollars in 1996 $17,667.51 dollars in 2023
$50,000 dollars in 1996 $88,337.56 dollars in 2023
$100,000 dollars in 1996 $176,675.12 dollars in 2023
$500,000 dollars in 1996 $883,375.62 dollars in 2023
$1,000,000 dollars in 1996 $1,766,751.24 dollars in 2023
Cumulative inflation From 1996 78.63%
Avg. annual inflation From 1996 2.09%
CPI 1996 70.26
CPI today 125.5

Value of Dollar over time (by year)

Period Value
1996 100
1997 101.62
1998 102.63
1999 104.41
2000 107.25
2001 109.96
2002 112.44
2003 115.55
2004 117.69
2005 120.3
2006 122.71
2007 125.33
2008 128.3
2009 128.69
2010 130.97
2011 134.79
2012 136.83
2013 138.11
2014 140.75
2015 142.33
2016 144.36
2017 146.67
2018 150
2019 152.92
2020 154.02
2021 159.24
2022 170.08
2023 176.68
2023-12 178.02
Today 178.63

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 | 2022 | 2023 |

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