Inflation Calculator Canada
Find out what your money is worth after inflation. Enter an amount, a starting year and an ending year to see the equivalent value, the total price change and the average yearly inflation rate.
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What is my money worth after inflation?
To find what money is worth after inflation, multiply the amount by the Consumer Price Index for the later year and divide by the index for the earlier year. Using Statistics Canada data, $100 in 2014 buys about the same as $128.50 did in 2024, and $100 in 2000 equals about $168.70 in 2024.
How the inflation calculator for Canada works
This inflation calculator for Canada uses Statistics Canada's all-items Consumer Price Index (CPI), averaged over each year. The CPI tracks the price of a fixed basket of goods and services that Canadian households buy, from rent and groceries to gasoline and phone plans.
Enter an amount in Canadian dollars, a starting year and an ending year between 2000 and 2026. The calculator divides the ending year's CPI by the starting year's CPI and applies that ratio to your amount. You see the equivalent value, the total percentage change and the average yearly inflation rate between the two years.
You can also run it backwards. Put the later year first to see what today's money would have been worth in an earlier year. The most recent year uses an estimate until Statistics Canada publishes the full-year average.
What is $100 worth today in Canada?
One hundred dollars from 2014 has the buying power of about $128.50 in 2024, according to Statistics Canada's CPI. Put the other way, $100 in 2024 buys what about $78 bought in 2014. Money from 2000 needs about $168.70 to match its buying power in 2024.
| Year | Equivalent in 2024 | Total price change |
|---|---|---|
| 2000 | about $168.70 | about 69% |
| 2005 | about $150.40 | about 50% |
| 2010 | about $138.10 | about 38% |
| 2015 | about $127.10 | about 27% |
| 2019 | about $118.30 | about 18% |
| 2021 | about $113.60 | about 14% |
| 2023 | about $102.40 | about 2% |
Notice how much of the change since 2019 happened in just a few years. Prices rose about 18% between 2019 and 2024, close to the increase over the whole decade before.
Canada's inflation rate by year
Canada's annual inflation rate averaged close to 2% for most of the 2010s, dipped during 2020 and then climbed to 6.8% in 2022, the highest annual rate in about 40 years. It has since eased back toward the Bank of Canada's target.
The Bank of Canada aims to keep inflation at 2%, the midpoint of a 1% to 3% target range, mainly by raising or lowering its policy interest rate. For a plain-language explanation of what drives prices up, see our guide to what inflation is.
Money news, explained
- Plain-language updates when rates change
- What it means for your mortgage and savings
- Insights based on your own spending
How to calculate inflation by hand
You can reproduce the calculator's result with two CPI values and one line of arithmetic.
- Look up the annual average CPI for both years on Statistics Canada's website. For example, 2014 was 125.2 and 2024 was 160.9 (2002 = 100).
- Divide the later CPI by the earlier CPI: 160.9 divided by 125.2 is about 1.285.
- Multiply your amount by that ratio: $100 times 1.285 is about $128.50.
- To get the total change, subtract 1 and convert to a percentage: about 28.5%.
- For the average yearly rate, raise the ratio to the power of 1 divided by the number of years, then subtract 1: about 2.5% a year over those ten years.
Annual averages smooth out monthly swings. The Bank of Canada's own inflation calculator uses monthly CPI if you need a specific month.
What inflation means for your budget
Inflation quietly shrinks a fixed budget. If your grocery or rent line has not changed in three years, it probably no longer covers the same things. Our article on how inflation affects household budgeting covers the categories that tend to rise fastest.
A raise below the inflation rate is a pay cut in real terms. The raise calculator shows your real raise after inflation, and the budget calculator helps you rebuild a monthly plan around today's prices.
Savings need to beat inflation too. At 2% inflation, prices double in about 36 years; at 3%, in about 24. The compound interest calculator shows whether your savings rate keeps pace.
EMOH Pay's reports compare your spending by category month over month, so you can see where rising prices are hitting your budget. It is free to start on iPhone, Android and the web.
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Get started free➜Inflation Calculator Canada: frequently asked questions
Where does the inflation data come from?
From Statistics Canada's all-items Consumer Price Index, using the annual average for each year with 2002 as the base year (2002 = 100). It is the same index the Bank of Canada uses to measure inflation.
Why does my own inflation feel higher than the official rate?
The CPI measures an average household basket. If you spend more than average on rent, food or fuel, and those rose faster, your personal inflation rate can be higher than the headline figure.
What was the highest inflation in Canada recently?
Annual average inflation was 6.8% in 2022. The single highest monthly reading was 8.1% year over year in June 2022, the fastest pace in about four decades.
Can I use the calculator for years before 2000?
This calculator covers 2000 to 2026. For earlier years, the Bank of Canada's inflation calculator goes back to 1914 using monthly CPI data.
Does the calculator work for other countries?
No. It uses Canadian CPI only. Prices in other countries change at different rates, so use that country's national statistics office for local inflation.
Sources and further reading
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