# \$1 in 1995 is worth \$1.56 today

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## Value of \$1 from 1995 to 2021

\$1 in 1995 is equivalent in purchasing power to about \$1.56 today, an increase of \$0.56 over 26 years. The dollar had an average inflation rate of 1.74% per year between 1995 and today, producing a cumulative price increase of 56.49%.

This means that today's prices are 1.56 times higher than average prices since 1995, according to Statistics Canada consumer price index. A dollar today only buys 64.10% of what it could buy back then.

The 1995 inflation rate was 1.74%. The current year-over-year inflation rate (2020 to 2021) is now 0.73%1. If this number holds, \$1 today will be equivalent in buying power to \$1.01 next year.

 Cumulative price change 56.49% Average inflation rate 1.74% Converted amount (\$1 base) \$1.56 Price difference (\$1 base) \$0.56 CPI in 1995 87.800 CPI in 2021 137.400 Inflation in 1995 1.74% Inflation in 2021 0.73% \$1 in 1995 \$1.56 in 2021

## Buying power of \$1 in 1995

This chart shows a calculation of buying power equivalence for \$1 in 1995 (price index tracking began in 1914).

For example, if you started with \$1, you would need to end with \$1.56 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$1 is equivalent to \$1.56 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 1995 dollars, the chart below shows how \$1 is worth less over 26 years.

According to Statistics Canada, each of these CAD amounts below is equal in terms of what it could buy at the time:

Dollar inflation: 1995-2021
Year Dollar Value Inflation Rate
1995 \$1.00 1.74%
1996 \$1.02 2.16%
1997 \$1.03 0.78%
1998 \$1.04 1.00%
1999 \$1.07 2.63%
2000 \$1.10 3.20%
2001 \$1.11 0.72%
2002 \$1.15 3.80%
2003 \$1.18 2.08%
2004 \$1.20 2.13%
2005 \$1.23 2.09%
2006 \$1.25 1.67%
2007 \$1.28 2.38%
2008 \$1.29 1.16%
2009 \$1.31 1.32%
2010 \$1.34 2.35%
2011 \$1.37 2.30%
2012 \$1.38 0.83%
2013 \$1.40 1.24%
2014 \$1.42 1.47%
2015 \$1.44 1.61%
2016 \$1.46 1.50%
2017 \$1.49 1.56%
2018 \$1.49 0.31%
2019 \$1.52 1.99%
2020 \$1.55 2.25%
2021 \$1.56 0.73%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 20 more rows

This conversion table shows various other 1995 amounts in today's dollars, based on the 56.49% change in prices:

Conversion: 1995 dollars today
Initial value Equivalent value
\$1 dollar in 1995 \$1.56 dollars today
\$5 dollars in 1995 \$7.82 dollars today
\$10 dollars in 1995 \$15.65 dollars today
\$50 dollars in 1995 \$78.25 dollars today
\$100 dollars in 1995 \$156.49 dollars today
\$500 dollars in 1995 \$782.46 dollars today
\$1,000 dollars in 1995 \$1,564.92 dollars today
\$5,000 dollars in 1995 \$7,824.60 dollars today
\$10,000 dollars in 1995 \$15,649.20 dollars today
\$50,000 dollars in 1995 \$78,246.01 dollars today
\$100,000 dollars in 1995 \$156,492.03 dollars today
\$500,000 dollars in 1995 \$782,460.14 dollars today
\$1,000,000 dollars in 1995 \$1,564,920.27 dollars today

## How to Calculate Inflation Rate for \$1 since 1995

Our calculations use the following inflation rate formula to calculate the change in value between 1995 and today:

CPI today CPI in 1995
×
=
Today's value

Then plug in historical CPI values. The Canadian CPI was 87.8 in the year 1995 and 137.4 in 2021:

137.487.8
×
\$1
=
\$1.56

\$1 in 1995 has the same "purchasing power" or "buying power" as \$1.56 in 2021.

To get the total inflation rate for the 26 years between 1995 and 2021, we use the following formula:

CPI in 2021 - CPI in 1995CPI in 1995
×
100
=
Cumulative inflation rate (26 years)

Plugging in the values to this equation, we get:

137.4 - 87.887.8
×
100
=
56%

Politics and news often influence economic performance. Here's what was happening at the time:

• Bosnian Serbs massacre over 7,000 Bosnian Muslims in Srebrenica.
• Scientists discover the Hale-Bopp Comet; which later became visible to the naked eye.
• Signing of the Dayton Agreement in Paris in order to end conflicts between former Yugoslavian republics
• 170 countries agree to the unconditional and indefinite extending of the Nuclear Non-proliferation Treaty.
• Austria, Finland and Sweden accede to the European Union.

## 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: “\$1 in 1995 → 2021 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 28 Nov. 2021, https://www.officialdata.org/canada/inflation/1995?amount=1&endYear=2021.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.