$100 in 1940 is equivalent in purchasing power to about $1,144.41 in 1998, an increase of $1,044.41 over 58 years. The dollar had an average inflation rate of 4.29% per year between 1940 and 1998, producing a cumulative price increase of 1,044.41%.
This means that prices in 1998 are 11.44 times as high as average prices since 1940, according to Statistics Canada consumer price index.
The inflation rate in 1940 was 4.25%. The inflation rate in 1998 was 1.00%. The 1998 inflation rate is lower compared to the average inflation rate of 2.15% per year between 1998 and 2024.
Cumulative price change | 1,044.41% |
Average inflation rate | 4.29% |
Converted amount $100 base | $1,144.41 |
Price difference $100 base | $1,044.41 |
CPI in 1940 | 7.975 |
CPI in 1998 | 91.267 |
Inflation in 1940 | 4.25% |
Inflation in 1998 | 1.00% |
$100 in 1940 | $1,144.41 in 1998 |
This chart shows a calculation of buying power equivalence for $100 in 1940 (price index tracking began in 1914).
For example, if you started with $100, you would need to end with $1,144.41 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $100 is equivalent to $1,144.41 over time, that means that the "real value" of a single Canadian dollar decreases over time. In other words, a dollar will pay for fewer items at the store.
This effect explains how inflation erodes the value of a dollar over time. By calculating the value in 1940 dollars, the chart below shows how $100 is worth less over 58 years.
According to Statistics Canada, each of these CAD amounts below is equal in terms of what it could buy at the time:
This conversion table shows various other 1940 amounts in 1998 dollars, based on the 1,044.41% change in prices:
Initial value | Equivalent value |
---|---|
$1 dollar in 1940 | $11.44 dollars in 1998 |
$5 dollars in 1940 | $57.22 dollars in 1998 |
$10 dollars in 1940 | $114.44 dollars in 1998 |
$50 dollars in 1940 | $572.20 dollars in 1998 |
$100 dollars in 1940 | $1,144.41 dollars in 1998 |
$500 dollars in 1940 | $5,722.05 dollars in 1998 |
$1,000 dollars in 1940 | $11,444.10 dollars in 1998 |
$5,000 dollars in 1940 | $57,220.48 dollars in 1998 |
$10,000 dollars in 1940 | $114,440.96 dollars in 1998 |
$50,000 dollars in 1940 | $572,204.81 dollars in 1998 |
$100,000 dollars in 1940 | $1,144,409.61 dollars in 1998 |
$500,000 dollars in 1940 | $5,722,048.07 dollars in 1998 |
$1,000,000 dollars in 1940 | $11,444,096.13 dollars in 1998 |
Our calculations use the following inflation rate formula to calculate the change in value between 1940 and 1998:
Then plug in historical CPI values. The Canadian CPI was 7.975 in the year 1940 and 91.26666667 in 1998:
$100 in 1940 has the same "purchasing power" or "buying power" as $1,144.41 in 1998.
To get the total inflation rate for the 58 years between 1940 and 1998, we use the following formula:
Plugging in the values to this equation, we get:
Raw data for these calculations comes from the government of Canada's annual Consumer Price Index (CPI), established in 1914 and computed by Statistics Canada (StatCan).
You may use the following MLA citation for this page: “$100 in 1940 → 1998 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 27 Apr. 2024, https://www.officialdata.org/1940-CAD-in-1998?amount=100.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
Cumulative price change | 1,044.41% |
Average inflation rate | 4.29% |
Converted amount $100 base | $1,144.41 |
Price difference $100 base | $1,044.41 |
CPI in 1940 | 7.975 |
CPI in 1998 | 91.267 |
Inflation in 1940 | 4.25% |
Inflation in 1998 | 1.00% |
$100 in 1940 | $1,144.41 in 1998 |