View $1 in 2005 → 2025
👉 You may be interested in $1 in 2005 → 2025
Value of $1 from 2005 to 2023
$1 in 2005 is equivalent in purchasing power to about $1.47 in 2023, an increase of $0.47 over 18 years. The dollar had an average inflation rate of 2.16% per year between 2005 and 2023, producing a cumulative price increase of 46.87%.
This means that prices in 2023 are 1.47 times as high as average prices since 2005, according to Statistics Canada consumer price index.
The inflation rate in 2005 was 2.21%. The inflation rate in 2023 was 3.88%. The 2023 inflation rate is higher compared to the average inflation rate of 1.48% per year between 2023 and 2025.
⌃
| Cumulative price change | 46.87% |
| Average inflation rate | 2.16% |
| Converted amount $1 base | $1.47 |
| Price difference $1 base | $0.47 |
| CPI in 2005 | 106.975 |
| CPI in 2023 | 157.110 |
| Inflation in 2005 | 2.21% |
| Inflation in 2023 | 3.88% |
| $1 in 2005 | $1.47 in 2023 |
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 $1.47 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $1 is equivalent to $1.47 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 18 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 2005 amounts in 2023 dollars, based on the 46.87% change in prices:
| Initial value | Equivalent value |
|---|---|
| $1 dollar in 2005 | $1.47 dollars in 2023 |
| $5 dollars in 2005 | $7.34 dollars in 2023 |
| $10 dollars in 2005 | $14.69 dollars in 2023 |
| $50 dollars in 2005 | $73.43 dollars in 2023 |
| $100 dollars in 2005 | $146.87 dollars in 2023 |
| $500 dollars in 2005 | $734.33 dollars in 2023 |
| $1,000 dollars in 2005 | $1,468.66 dollars in 2023 |
| $5,000 dollars in 2005 | $7,343.30 dollars in 2023 |
| $10,000 dollars in 2005 | $14,686.61 dollars in 2023 |
| $50,000 dollars in 2005 | $73,433.05 dollars in 2023 |
| $100,000 dollars in 2005 | $146,866.09 dollars in 2023 |
| $500,000 dollars in 2005 | $734,330.45 dollars in 2023 |
| $1,000,000 dollars in 2005 | $1,468,660.90 dollars in 2023 |
How to calculate inflation rate for $1, 2005 to 2023
Our calculations use the following inflation rate formula to calculate the change in value between 2005 and 2023:
CPI in 2023 CPI in 2005
×
2005 CAD value
=
2023 CAD value
Then plug in historical CPI values. The Canadian CPI was 106.975 in the year 2005 and 157.11 in 2023:
157.11106.975
×
$1
=
$1.47
$1 in 2005 has the same "purchasing power" or "buying power" as $1.47 in 2023.
To get the total inflation rate for the 18 years between 2005 and 2023, we use the following formula:
CPI in 2023 - CPI in 2005CPI in 2005
×
100
=
Cumulative inflation rate (18 years)
Plugging in the values to this equation, we get:
157.11 - 106.975106.975
×
100
=
47%
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 → 2023 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 21 May. 2025, https://www.officialdata.org/canada/inflation/2005?amount=1&endYear=2023.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
| Cumulative price change | 46.87% |
| Average inflation rate | 2.16% |
| Converted amount $1 base | $1.47 |
| Price difference $1 base | $0.47 |
| CPI in 2005 | 106.975 |
| CPI in 2023 | 157.110 |
| Inflation in 2005 | 2.21% |
| Inflation in 2023 | 3.88% |
| $1 in 2005 | $1.47 in 2023 |
