Purchasing power decreased by 15.28% in 1917 compared to 1916. On average, you would have to spend 15.28% more money in 1917 than in 1916 for the same item.
In other words, CA$1 in 1916 is equivalent in purchasing power to about CA$1.15 in 1917.
The 1916 inflation rate was 14.29%. The inflation rate in 1917 was 15.28%. The 1917 inflation rate is higher compared to the average inflation rate of 2.76% per year between 1917 and 2019.
Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1917 was 8.30. It was 7.20 in the previous year, 1916. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.
|Average inflation rate||15.28%|
|Converted amount (CA$1 base)||CA$1.15|
|Price difference (CA$1 base)||CA$0.15|
|CPI in 1916||7.200|
|CPI in 1917||8.300|
|Inflation in 1916||14.29%|
|Inflation in 1917||15.28%|
This inflation calculator uses the following inflation rate formula:
Then plug in historical CPI values. The Canadian CPI was 7.2 in the year 1916 and 8.3 in 1917:
CA$1 in 1916 has the same "purchasing power" or "buying power" as CA$1.15 in 1917.
To get the total inflation rate for the 1 years between 1916 and 1917, 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 1917 | Canada Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 May. 2019, https://www.officialdata.org/CAD-inflation-rate-in-1917.
Special thanks to QuickChart for providing downloadable chart images.
in2013dollars.com is a reference website maintained by the Official Data Foundation.