View $1 in 2005 → 2025
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Value of $1 from 2005 to 2024
$1 in 2005 is equivalent in purchasing power to about $1.50 in 2024, an increase of $0.50 over 19 years. The dollar had an average inflation rate of 2.17% per year between 2005 and 2024, producing a cumulative price increase of 50.33%.
This means that prices in 2024 are 1.50 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 2024 was 2.36%. The 2024 inflation rate is higher compared to the average inflation rate of 0.61% per year between 2024 and 2025.
⌃
| Cumulative price change | 50.33% |
| Average inflation rate | 2.17% |
| Converted amount $1 base | $1.50 |
| Price difference $1 base | $0.50 |
| CPI in 2005 | 106.975 |
| CPI in 2024 | 160.820 |
| Inflation in 2005 | 2.21% |
| Inflation in 2024 | 2.36% |
| $1 in 2005 | $1.50 in 2024 |
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 $1.50 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $1 is equivalent to $1.50 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 19 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 2024 dollars, based on the 50.33% change in prices:
| Initial value | Equivalent value |
|---|---|
| $1 dollar in 2005 | $1.50 dollars in 2024 |
| $5 dollars in 2005 | $7.52 dollars in 2024 |
| $10 dollars in 2005 | $15.03 dollars in 2024 |
| $50 dollars in 2005 | $75.17 dollars in 2024 |
| $100 dollars in 2005 | $150.33 dollars in 2024 |
| $500 dollars in 2005 | $751.67 dollars in 2024 |
| $1,000 dollars in 2005 | $1,503.34 dollars in 2024 |
| $5,000 dollars in 2005 | $7,516.71 dollars in 2024 |
| $10,000 dollars in 2005 | $15,033.42 dollars in 2024 |
| $50,000 dollars in 2005 | $75,167.10 dollars in 2024 |
| $100,000 dollars in 2005 | $150,334.19 dollars in 2024 |
| $500,000 dollars in 2005 | $751,670.95 dollars in 2024 |
| $1,000,000 dollars in 2005 | $1,503,341.90 dollars in 2024 |
How to calculate inflation rate for $1, 2005 to 2024
Our calculations use the following inflation rate formula to calculate the change in value between 2005 and 2024:
CPI in 2024 CPI in 2005
×
2005 CAD value
=
2024 CAD value
Then plug in historical CPI values. The Canadian CPI was 106.975 in the year 2005 and 160.82 in 2024:
160.82106.975
×
$1
=
$1.50
$1 in 2005 has the same "purchasing power" or "buying power" as $1.50 in 2024.
To get the total inflation rate for the 19 years between 2005 and 2024, we use the following formula:
CPI in 2024 - CPI in 2005CPI in 2005
×
100
=
Cumulative inflation rate (19 years)
Plugging in the values to this equation, we get:
160.82 - 106.975106.975
×
100
=
50%
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 → 2024 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 18 Jun. 2025, https://www.officialdata.org/canada/inflation/2005?amount=1&endYear=2024.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
| Cumulative price change | 50.33% |
| Average inflation rate | 2.17% |
| Converted amount $1 base | $1.50 |
| Price difference $1 base | $0.50 |
| CPI in 2005 | 106.975 |
| CPI in 2024 | 160.820 |
| Inflation in 2005 | 2.21% |
| Inflation in 2024 | 2.36% |
| $1 in 2005 | $1.50 in 2024 |
