The Impact of Inflation on value of $1 from 1916 to 2024
In 1913 the price of $1 is approximately equal to $23.73 in 2024. Prices changed by 3.14% (or $0.21) per year on average during that period. It means that every purchase will cost you 23.73 times as much.
Inflation is a powerful force that can erode the purchasing power of money over time. For anyone curious about the value of $1 in 1916 and what it would be worth in 2024, this page provides a detailed analysis using the cumulative price change, average inflation rate, and other key financial indicators.
How Much is $1 in 1916 Worth Today?
- Converted Amount: The $1 from 1916, adjusted for inflation, would be equivalent to $23.73 in 2024.
- Cumulative Price Change: Over this period, the cumulative price change has been 2272.54%.
- Average Inflation Rate: The average annual inflation rate between 1916 and 2024 has been 3.14%.
| Cumulative price change | 2272.54% |
| Average inflation rate | 3.14% |
| Converted amount | 23.73 |
| Price difference | 22.73 |
| CPI in 1916 | 6.7 |
| CPI in 2024 | 158.96 |
| Inflation in 1916 | 9.84% |
| Inflation in 2024 | 1.18% |
| 1 in 1916 | 23.73 in 2024 |
Key Financial Indicators:
Consumer Price Index (CPI) Comparison
- CPI in 1916: 6.7
- CPI in 2024: 158.96
Inflation Rate at 1916 and 2024
- Inflation in 1916: 9.84%
- Inflation in 2024: 1.18%
Price Difference
- The price difference between 1916 and 2024 is $22.73.
1916 to 2024 Inflation Calculator
To understand the transformation of $1 from 1916 into 2024 Canadian Dollars, consider the following table:
| Year | CPI | Inflation rate | Value in 2024 |
|---|---|---|---|
| 1916 | 6.7 | 9.84% | $1 |
| 2024 | 158.96 | 1.18% | $23.73 |
This table highlights the key figures that affect how the value of money changes over time due to inflation.
Buying Power of $1 in 1916
$1 in the year 1916 is now worth $23.73 in 2024, showing a substantial increase of $22.73 over the years. This change underscores how the average inflation rate of 3.14% annually has eroded the purchasing power of the Canadian Dollar.