# \$1 in 2005 is worth \$1.32 in 2021

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👉 You may be interested in \$1 in 2005 → 2022

## Value of \$1 from 2005 to 2021

\$1 in 2005 is equivalent in purchasing power to about \$1.32 in 2021, an increase of \$0.32 over 16 years. The dollar had an average inflation rate of 1.77% per year between 2005 and 2021, producing a cumulative price increase of 32.38%.

This means that prices in 2021 are 1.32 times higher than average prices since 2005, according to Statistics Canada consumer price index.

The inflation rate in 2005 was 2.21%. The inflation rate in 2021 was 3.40%. The 2021 inflation rate is lower compared to the average inflation rate of 7.20% per year between 2021 and 2022.

 Cumulative price change 32.38% Average inflation rate 1.77% Converted amount (\$1 base) \$1.32 Price difference (\$1 base) \$0.32 CPI in 2005 106.975 CPI in 2021 141.608 Inflation in 2005 2.21% Inflation in 2021 3.40% \$1 in 2005 \$1.32 in 2021

## Buying power of \$1 in 2005

This chart shows a calculation of buying power equivalence for \$1 in 2005 (price index tracking began in 1914).

For example, if you started with \$1, you would need to end with \$1.32 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$1 is equivalent to \$1.32 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 2005 dollars, the chart below shows how \$1 is worth less over 16 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: 2005-2021
YearDollar ValueInflation Rate
2005\$1.002.21%
2006\$1.022.00%
2007\$1.042.14%
2008\$1.072.37%
2009\$1.070.30%
2010\$1.091.78%
2011\$1.122.91%
2012\$1.141.52%
2013\$1.150.94%
2014\$1.171.91%
2015\$1.181.13%
2016\$1.201.43%
2017\$1.221.60%
2018\$1.252.27%
2019\$1.271.95%
2020\$1.280.72%
2021\$1.323.40%
2022\$1.427.20%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 10 more rows

This conversion table shows various other 2005 amounts in 2021 dollars, based on the 32.38% change in prices:

Conversion: 2005 dollars in 2021
Initial valueEquivalent value
\$1 dollar in 2005\$1.32 dollars in 2021
\$5 dollars in 2005\$6.62 dollars in 2021
\$10 dollars in 2005\$13.24 dollars in 2021
\$50 dollars in 2005\$66.19 dollars in 2021
\$100 dollars in 2005\$132.38 dollars in 2021
\$500 dollars in 2005\$661.88 dollars in 2021
\$1,000 dollars in 2005\$1,323.75 dollars in 2021
\$5,000 dollars in 2005\$6,618.76 dollars in 2021
\$10,000 dollars in 2005\$13,237.52 dollars in 2021
\$50,000 dollars in 2005\$66,187.58 dollars in 2021
\$100,000 dollars in 2005\$132,375.17 dollars in 2021
\$500,000 dollars in 2005\$661,875.83 dollars in 2021
\$1,000,000 dollars in 2005\$1,323,751.66 dollars in 2021

## How to calculate inflation rate for \$1, 2005 to 2021

Our calculations use the following inflation rate formula to calculate the change in value between 2005 and 2021:

CPI in 2021 CPI in 2005
×
=

Then plug in historical CPI values. The Canadian CPI was 106.975 in the year 2005 and 141.6083333 in 2021:

141.6083333106.975
×
\$1
=
\$1.32

\$1 in 2005 has the same "purchasing power" or "buying power" as \$1.32 in 2021.

To get the total inflation rate for the 16 years between 2005 and 2021, we use the following formula:

CPI in 2021 - CPI in 2005CPI in 2005
×
100
=
Cumulative inflation rate (16 years)

Plugging in the values to this equation, we get:

141.6083333 - 106.975106.975
×
100
=
32%

## 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 2005 → 2021 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 18 Aug. 2022, https://www.officialdata.org/canada/inflation/2005?amount=1&endYear=2021.

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