Value of $1 from 1984 to 2018
$1 in 1984 is equivalent in purchasing power to about $2.20 in 2018, an increase of $1.20 over 34 years. The dollar had an average inflation rate of 2.35% per year between 1984 and 2018, producing a cumulative price increase of 120.20%.
This means that prices in 2018 are 2.20 times as high as average prices since 1984, according to Statistics Canada consumer price index.
The inflation rate in 1984 was 4.30%. The inflation rate in 2018 was 2.27%. The 2018 inflation rate is lower compared to the average inflation rate of 2.95% per year between 2018 and 2024.
⌃
| Cumulative price change | 120.20% |
| Average inflation rate | 2.35% |
| Converted amount $1 base | $2.20 |
| Price difference $1 base | $1.20 |
| CPI in 1984 | 60.575 |
| CPI in 2018 | 133.383 |
| Inflation in 1984 | 4.30% |
| Inflation in 2018 | 2.27% |
| $1 in 1984 | $2.20 in 2018 |
Buying power of $1 in 1984
This chart shows a calculation of buying power equivalence for $1 in 1984 (price index tracking began in 1914).
For example, if you started with $1, you would need to end with $2.20 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $1 is equivalent to $2.20 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 1984 dollars, the chart below shows how $1 is worth less over 34 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 1984 amounts in 2018 dollars, based on the 120.20% change in prices:
| Initial value | Equivalent value |
|---|---|
| $1 dollar in 1984 | $2.20 dollars in 2018 |
| $5 dollars in 1984 | $11.01 dollars in 2018 |
| $10 dollars in 1984 | $22.02 dollars in 2018 |
| $50 dollars in 1984 | $110.10 dollars in 2018 |
| $100 dollars in 1984 | $220.20 dollars in 2018 |
| $500 dollars in 1984 | $1,100.98 dollars in 2018 |
| $1,000 dollars in 1984 | $2,201.95 dollars in 2018 |
| $5,000 dollars in 1984 | $11,009.77 dollars in 2018 |
| $10,000 dollars in 1984 | $22,019.54 dollars in 2018 |
| $50,000 dollars in 1984 | $110,097.68 dollars in 2018 |
| $100,000 dollars in 1984 | $220,195.35 dollars in 2018 |
| $500,000 dollars in 1984 | $1,100,976.75 dollars in 2018 |
| $1,000,000 dollars in 1984 | $2,201,953.50 dollars in 2018 |
How to calculate inflation rate for $1, 1984 to 2018
Our calculations use the following inflation rate formula to calculate the change in value between 1984 and 2018:
CPI in 2018 CPI in 1984
×
1984 CAD value
=
2018 CAD value
Then plug in historical CPI values. The Canadian CPI was 60.575 in the year 1984 and 133.3833333 in 2018:
133.383333360.575
×
$1
=
$2.20
$1 in 1984 has the same "purchasing power" or "buying power" as $2.20 in 2018.
To get the total inflation rate for the 34 years between 1984 and 2018, we use the following formula:
CPI in 2018 - CPI in 1984CPI in 1984
×
100
=
Cumulative inflation rate (34 years)
Plugging in the values to this equation, we get:
133.3833333 - 60.57560.575
×
100
=
120%
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 1984 → 2018 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 15 Dec. 2024, https://www.officialdata.org/1984-CAD-in-2018?amount=1.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
| Cumulative price change | 120.20% |
| Average inflation rate | 2.35% |
| Converted amount $1 base | $2.20 |
| Price difference $1 base | $1.20 |
| CPI in 1984 | 60.575 |
| CPI in 2018 | 133.383 |
| Inflation in 1984 | 4.30% |
| Inflation in 2018 | 2.27% |
| $1 in 1984 | $2.20 in 2018 |