Purchasing power decreased by 14.29% in 1916 compared to the previous year, 1915. On average, you would have to spend 14.29% more money in 1916 than in 1915 for the same item.
In other words, CA$1 in 1915 is equivalent in purchasing power to CA$1.14 in 1916.
The 1915 inflation rate was 3.28%. The inflation rate in 1916 was 14.29%. The 1916 inflation rate is higher compared to the average inflation rate of 2.87% per year between 1916 and 2019.
Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1916 was 7.2. It was 6.3 in the previous year, 1915. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.
|Average inflation rate||14.29%|
|Converted amount (CA$1 base)||CA$1.14|
|Price difference (CA$1 base)||CA$0.14|
|CPI in 1915||6.300|
|CPI in 1916||7.200|
|Inflation in 1915||3.28%|
|Inflation in 1916||14.29%|
This inflation calculator uses the following inflation rate formula:
Then plug in historical CPI values. The Canadian CPI was 6.3 in the year 1915 and 7.2 in 1916:
CA$1 in 1915 has the same "purchasing power" or "buying power" as CA$1.14 in 1916.
To get the total inflation rate for the 1 years between 1915 and 1916, we use the following formula:
Plugging in the values to this equation, we get:
Politics and news often influence economic performance. Here's what was happening at the time:
You may use the following MLA citation for this page: “Inflation Rate in 1916 | Canada Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 17 Feb. 2019, https://www.officialdata.org/CAD-inflation-rate-in-1916.
in2013dollars.com is a reference website maintained by the Official Data Foundation.