Value of $20,016 from 2008 to 2018
$20,016 in 2008 is equivalent in purchasing power to about $23,400.49 in 2018, an increase of $3,384.49 over 10 years. The dollar had an average inflation rate of 1.57% per year between 2008 and 2018, producing a cumulative price increase of 16.91%.
This means that prices in 2018 are 1.17 times as high as average prices since 2008, according to Statistics Canada consumer price index.
The inflation rate in 2008 was 2.37%. The inflation rate in 2018 was 2.27%. The 2018 inflation rate is lower compared to the average inflation rate of 2.80% per year between 2018 and 2025.
⌃
| Cumulative price change | 16.91% |
| Average inflation rate | 1.57% |
| Converted amount $20,016 base | $23,400.49 |
| Price difference $20,016 base | $3,384.49 |
| CPI in 2008 | 114.092 |
| CPI in 2018 | 133.383 |
| Inflation in 2008 | 2.37% |
| Inflation in 2018 | 2.27% |
| $20,016 in 2008 | $23,400.49 in 2018 |
Buying power of $20,016 in 2008
This chart shows a calculation of buying power equivalence for $20,016 in 2008 (price index tracking began in 1914).
For example, if you started with $20,016, you would need to end with $23,400.49 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $20,016 is equivalent to $23,400.49 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 2008 dollars, the chart below shows how $20,016 is worth less over 10 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 2008 amounts in 2018 dollars, based on the 16.91% change in prices:
| Initial value | Equivalent value |
|---|---|
| $1 dollar in 2008 | $1.17 dollars in 2018 |
| $5 dollars in 2008 | $5.85 dollars in 2018 |
| $10 dollars in 2008 | $11.69 dollars in 2018 |
| $50 dollars in 2008 | $58.45 dollars in 2018 |
| $100 dollars in 2008 | $116.91 dollars in 2018 |
| $500 dollars in 2008 | $584.54 dollars in 2018 |
| $1,000 dollars in 2008 | $1,169.09 dollars in 2018 |
| $5,000 dollars in 2008 | $5,845.45 dollars in 2018 |
| $10,000 dollars in 2008 | $11,690.89 dollars in 2018 |
| $50,000 dollars in 2008 | $58,454.46 dollars in 2018 |
| $100,000 dollars in 2008 | $116,908.92 dollars in 2018 |
| $500,000 dollars in 2008 | $584,544.59 dollars in 2018 |
| $1,000,000 dollars in 2008 | $1,169,089.18 dollars in 2018 |
How to calculate inflation rate for $20,016, 2008 to 2018
Our calculations use the following inflation rate formula to calculate the change in value between 2008 and 2018:
CPI in 2018 CPI in 2008
×
2008 CAD value
=
2018 CAD value
Then plug in historical CPI values. The Canadian CPI was 114.0916667 in the year 2008 and 133.3833333 in 2018:
133.3833333114.0916667
×
$20,016
=
$23,400.49
$20,016 in 2008 has the same "purchasing power" or "buying power" as $23,400.49 in 2018.
To get the total inflation rate for the 10 years between 2008 and 2018, we use the following formula:
CPI in 2018 - CPI in 2008CPI in 2008
×
100
=
Cumulative inflation rate (10 years)
Plugging in the values to this equation, we get:
133.3833333 - 114.0916667114.0916667
×
100
=
17%
Data source & citation
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: “$20,016 in 2008 → 2018 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 21 May. 2025, https://www.officialdata.org/2008-CAD-in-2018?amount=20016.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
| Cumulative price change | 16.91% |
| Average inflation rate | 1.57% |
| Converted amount $20,016 base | $23,400.49 |
| Price difference $20,016 base | $3,384.49 |
| CPI in 2008 | 114.092 |
| CPI in 2018 | 133.383 |
| Inflation in 2008 | 2.37% |
| Inflation in 2018 | 2.27% |
| $20,016 in 2008 | $23,400.49 in 2018 |
