The Impact of Inflation on value of $2 from 1979 to 2024
In 1913 the price of $2 is approximately equal to $7.95 in 2024. Prices changed by 3.28% (or $0.13) per year on average during that period. It means that every purchase will cost you 3.98 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 $2 in 1979 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 $2 in 1979 Worth Today?
- Converted Amount: The $2 from 1979, adjusted for inflation, would be equivalent to $7.95 in 2024.
- Cumulative Price Change: Over this period, the cumulative price change has been 297.40%.
- Average Inflation Rate: The average annual inflation rate between 1979 and 2024 has been 3.28%.
| Cumulative price change | 297.40% |
| Average inflation rate | 3.28% |
| Converted amount | 7.95 |
| Price difference | 5.95 |
| CPI in 1979 | 40 |
| CPI in 2024 | 158.96 |
| Inflation in 1979 | 9.29% |
| Inflation in 2024 | 1.18% |
| 2 in 1979 | 7.95 in 2024 |
Key Financial Indicators:
Consumer Price Index (CPI) Comparison
- CPI in 1979: 40
- CPI in 2024: 158.96
Inflation Rate at 1979 and 2024
- Inflation in 1979: 9.29%
- Inflation in 2024: 1.18%
Price Difference
- The price difference between 1979 and 2024 is $5.95.
1979 to 2024 Inflation Calculator
To understand the transformation of $2 from 1979 into 2024 Canadian Dollars, consider the following table:
| Year | CPI | Inflation rate | Value in 2024 |
|---|---|---|---|
| 1979 | 40 | 9.29% | $2 |
| 2024 | 158.96 | 1.18% | $7.95 |
This table highlights the key figures that affect how the value of money changes over time due to inflation.
Buying Power of $2 in 1979
$2 in the year 1979 is now worth $7.95 in 2024, showing a substantial increase of $5.95 over the years. This change underscores how the average inflation rate of 3.28% annually has eroded the purchasing power of the Canadian Dollar.