Value of $1 from 1960 to 1962
$1 in 1960 is equivalent in purchasing power to about $1.02 in 1962, an increase of $0.02 over 2 years. The dollar had an average inflation rate of 1.04% per year between 1960 and 1962, producing a cumulative price increase of 2.09%.
This means that prices in 1962 are 1.02 times as high as average prices since 1960, according to Statistics Canada consumer price index.
The inflation rate in 1960 was 1.36%. The inflation rate in 1962 was 1.06%. The 1962 inflation rate is lower compared to the average inflation rate of 3.75% per year between 1962 and 2025.
⌃
| Cumulative price change | 2.09% |
| Average inflation rate | 1.04% |
| Converted amount $1 base | $1.02 |
| Price difference $1 base | $0.02 |
| CPI in 1960 | 15.542 |
| CPI in 1962 | 15.867 |
| Inflation in 1960 | 1.36% |
| Inflation in 1962 | 1.06% |
| $1 in 1960 | $1.02 in 1962 |
Buying power of $1 in 1960
This chart shows a calculation of buying power equivalence for $1 in 1960 (price index tracking began in 1914).
For example, if you started with $1, you would need to end with $1.02 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $1 is equivalent to $1.02 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 1960 dollars, the chart below shows how $1 is worth less over 2 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 1960 amounts in 1962 dollars, based on the 2.09% change in prices:
| Initial value | Equivalent value |
|---|---|
| $1 dollar in 1960 | $1.02 dollars in 1962 |
| $5 dollars in 1960 | $5.10 dollars in 1962 |
| $10 dollars in 1960 | $10.21 dollars in 1962 |
| $50 dollars in 1960 | $51.05 dollars in 1962 |
| $100 dollars in 1960 | $102.09 dollars in 1962 |
| $500 dollars in 1960 | $510.46 dollars in 1962 |
| $1,000 dollars in 1960 | $1,020.91 dollars in 1962 |
| $5,000 dollars in 1960 | $5,104.56 dollars in 1962 |
| $10,000 dollars in 1960 | $10,209.12 dollars in 1962 |
| $50,000 dollars in 1960 | $51,045.58 dollars in 1962 |
| $100,000 dollars in 1960 | $102,091.15 dollars in 1962 |
| $500,000 dollars in 1960 | $510,455.76 dollars in 1962 |
| $1,000,000 dollars in 1960 | $1,020,911.53 dollars in 1962 |
How to calculate inflation rate for $1, 1960 to 1962
Our calculations use the following inflation rate formula to calculate the change in value between 1960 and 1962:
CPI in 1962 CPI in 1960
×
1960 CAD value
=
1962 CAD value
Then plug in historical CPI values. The Canadian CPI was 15.54166667 in the year 1960 and 15.86666667 in 1962:
15.8666666715.54166667
×
$1
=
$1.02
$1 in 1960 has the same "purchasing power" or "buying power" as $1.02 in 1962.
To get the total inflation rate for the 2 years between 1960 and 1962, we use the following formula:
CPI in 1962 - CPI in 1960CPI in 1960
×
100
=
Cumulative inflation rate (2 years)
Plugging in the values to this equation, we get:
15.86666667 - 15.5416666715.54166667
×
100
=
2%
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 1960 → 1962 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 13 Mar. 2025, https://www.officialdata.org/canada/inflation/1960?amount=1&endYear=1962.
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 | 2.09% |
| Average inflation rate | 1.04% |
| Converted amount $1 base | $1.02 |
| Price difference $1 base | $0.02 |
| CPI in 1960 | 15.542 |
| CPI in 1962 | 15.867 |
| Inflation in 1960 | 1.36% |
| Inflation in 1962 | 1.06% |
| $1 in 1960 | $1.02 in 1962 |