Value of 2005 Canadian Dollar today

$100 in 2005

$151.42 in 2024

The inflation rate in Canada between 2005 and today has been 51.42%, which translates into a total increase of $51.42. This means that 100 dollars in 2005 are equivalent to 151.42 dollars in 2024. In other words, the purchasing power of $100 in 2005 equals $151.42 today. The average annual inflation rate between these periods has been 2.21%.

Inflation timeline in Canada (2005 - 2024)

The following chart depicts the equivalence of $100 due to compound inflation and CPI changes. All values are equivalent in terms of purchasing power, which means that for each year the same goods or services could be bought with the indicated amount of money.

All calculations are performed in the local currency (CAD) and using 6 decimal digits. Results show only up to 2 decimal digits to favour readability. Inflation data is provided by governments and international institutions on a monthly basis. Today's values were extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator	Value
Cumulative inflation 2005-2023	46.86%
Cumulative inflation 2005-today	51.42%
Avg. Annual inflation 2005-2023	2.16%
CPI 2005	84.52
CPI 2023	124.13
CPI 2024-11 (latest official data)	127.84
CPI today	127.98

How to calculate today's value of money after inflation?

There are several ways to calculate the time value of money. Depending on the data available, results can be obtained by using the Consumer Price Index (CPI) formula or the compound interest formula.

Using the CPI formula

When we have both the start and end years, we can use the following formula:

Value_t =Value₀ ×

CPI_t/CPI₀

To obtain the values equivalent in buying power between 2005 and 2023, use the corresponding CPI values:

Value₂₀₂₃

=Value₂₀₀₅ ×

CPI₂₀₂₃/CPI₂₀₀₅

=$ 100 ×

124.13/84.52

≈$146.86

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 127.98:

Value_today

=Value₂₀₀₅ ×

CPI_today/CPI₂₀₀₅

=$ 100 ×

127.98/84.52

≈$151.42

Alternative: Using the compound interest formula

Given that money changes with time as a result of an inflation rate that acts as compound interest, we can use the following formula: FV = PV × (1 + i)ⁿ, where:

FV: Future Value
PV: Present Value
i: Interest rate (inflation)
n: Number of times the interest is compounded (i.e. # of years)

In this case, the future value represents the final amount obtained after applying the inflation rate to our initial value. In other words, it indicates how much are $100 worth today. There are 18 years between 2005 and 2023 and the average inflation rate was 2.1582%. Therefore, we can resolve the formula like this:

Value₂₀₂₃

=PV × (1 + i)ⁿ

=$100 × (1 + 0.021582)¹⁸

≈$146.86

Canada inflation - Conversion table

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	→	$146.86 dollars in 2023
$500 dollars in 2005	→	$734.32 dollars in 2023
$1,000 dollars in 2005	→	$1,468.65 dollars in 2023
$5,000 dollars in 2005	→	$7,343.23 dollars in 2023
$10,000 dollars in 2005	→	$14,686.45 dollars in 2023
$50,000 dollars in 2005	→	$73,432.27 dollars in 2023
$100,000 dollars in 2005	→	$146,864.53 dollars in 2023
$500,000 dollars in 2005	→	$734,322.65 dollars in 2023
$1,000,000 dollars in 2005	→	$1,468,645.31 dollars in 2023

Cumulative inflation From 2005	51.42%
Avg. annual inflation From 2005	2.21%
CPI 2005	84.52
CPI today	127.98

Value of Dollar over time (by year)

Period	Value
2005	100
2006	102
2007	104.18
2008	106.65
2009	106.97
2010	108.87
2011	112.04
2012	113.74
2013	114.81
2014	117
2015	118.31
2016	120
2017	121.92
2018	124.69
2019	127.12
2020	128.03
2021	132.38
2022	141.38
2023	146.86
2024-11	151.25
Today	151.42