Value of $0.08 from 1947 to 2024
$0.08 in 1947 is equivalent in purchasing power to about $1.24 today, an increase of $1.16 over 77 years. The dollar had an average inflation rate of 3.62% per year between 1947 and today, producing a cumulative price increase of 1,444.25%.
This means that today's prices are 15.44 times as high as average prices since 1947, according to Statistics Canada consumer price index. A dollar today only buys 6.452% of what it could buy back then.
The inflation rate in 1947 was 9.01%. The current inflation rate compared to the end of last year is now 1.15%. If this number holds, the rate of inflation is so negligible that $0.08 today will roughly maintain its value.
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| Cumulative price change | 1,444.25% |
| Average inflation rate | 3.62% |
| Converted amount $0.08 base | $1.24 |
| Price difference $0.08 base | $1.16 |
| CPI in 1947 | 10.283 |
| CPI in 2024 | 158.800 |
| Inflation in 1947 | 9.01% |
| Inflation in 2024 | 1.15% |
| $0.08 in 1947 | $1.24 in 2024 |
Buying power of $0.08 in 1947
This chart shows a calculation of buying power equivalence for $0.08 in 1947 (price index tracking began in 1914).
For example, if you started with $0.08, you would need to end with $1.24 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $0.08 is equivalent to $1.24 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 1947 dollars, the chart below shows how $0.08 is worth less over 77 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 1947 amounts in today's dollars, based on the 1,444.25% change in prices:
| Initial value | Equivalent value |
|---|---|
| $1 dollar in 1947 | $15.44 dollars today |
| $5 dollars in 1947 | $77.21 dollars today |
| $10 dollars in 1947 | $154.42 dollars today |
| $50 dollars in 1947 | $772.12 dollars today |
| $100 dollars in 1947 | $1,544.25 dollars today |
| $500 dollars in 1947 | $7,721.23 dollars today |
| $1,000 dollars in 1947 | $15,442.46 dollars today |
| $5,000 dollars in 1947 | $77,212.32 dollars today |
| $10,000 dollars in 1947 | $154,424.64 dollars today |
| $50,000 dollars in 1947 | $772,123.18 dollars today |
| $100,000 dollars in 1947 | $1,544,246.35 dollars today |
| $500,000 dollars in 1947 | $7,721,231.77 dollars today |
| $1,000,000 dollars in 1947 | $15,442,463.54 dollars today |
How to calculate inflation rate for $0.08 since 1947
Our calculations use the following inflation rate formula to calculate the change in value between 1947 and today:
CPI today CPI in 1947
×
1947 CAD value
=
Today's value
Then plug in historical CPI values. The Canadian CPI was 10.28333333 in the year 1947 and 158.8 in 2024:
158.810.28333333
×
$0.08
=
$1.24
$0.08 in 1947 has the same "purchasing power" or "buying power" as $1.24 in 2024.
To get the total inflation rate for the 77 years between 1947 and 2024, we use the following formula:
CPI in 2024 - CPI in 1947CPI in 1947
×
100
=
Cumulative inflation rate (77 years)
Plugging in the values to this equation, we get:
158.8 - 10.2833333310.28333333
×
100
=
1,444%
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: “$0.08 in 1947 → 2024 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 25 Nov. 2024, https://www.officialdata.org/canada/inflation/1947?amount=0.08.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
in2013dollars.com is a reference website maintained by the Official Data Foundation.
| Cumulative price change | 1,444.25% |
| Average inflation rate | 3.62% |
| Converted amount $0.08 base | $1.24 |
| Price difference $0.08 base | $1.16 |
| CPI in 1947 | 10.283 |
| CPI in 2024 | 158.800 |
| Inflation in 1947 | 9.01% |
| Inflation in 2024 | 1.15% |
| $0.08 in 1947 | $1.24 in 2024 |