Canadian inflation rate in 1923: 0.00%

Canada Inflation Calculator


Canadian Inflation Rate, 1923-2018 (CA$1)

The consumer price index (CPI) in 1923 was 9.2. Statistics Canada uses this CPI value to track inflation on a monthly basis.

According to Statistics Canada consumer price index, the dollar experienced an average inflation rate of 2.83% per year. Prices in 2018 are 1322.8% higher than prices in 1923.

In other words, CA$1 in the year 1923 is equivalent in purchasing power to CA$14.23 in 2018, a difference of CA$13.23 over 95 years.

The current inflation rate in 2018 is 0.38%1. If this number holds, CA$1 today will be equivalent to CA$1.00 next year.

Inflation from 1923 to 2018
Cumulative price change 1322.83%
Average inflation rate 2.83%
Price difference (CA$1 base) CA$13.23
CPI in 1923 9.2
CPI in 2018 130.9

CAD inflation chart from 1914 to 2017

How to calculate the inflation rate for CA$1 since 1923

Start with the inflation rate formula:

CPI in 2018 / CPI in 1923 * 1923 CAD value = 2018 CAD value

Then plug in historical CPI values. The Canadian CPI was 9.2 in the year 1923 and 130.9 in 2018:

130.9 / 9.2 * CA$1 = CA$14.23

CA$1 in 1923 has the same "purchasing power" as CA$14.23 in 2018.

News headlines from 1923

Politics and news often influence economic performance. Here's what was happening at the time:

  • The inner burial chamber of the Pharaoh Tutankhamun's tomb is opened, leading to the finding of the sarcophagus by Howard Carter.
  • The Disney Brothers Cartoon Studio is founded.
  • Lenin's "Political Testament" is issued which calls for Stalin's removal.
  • In Germany, 5,000 storm troopers demonstrate against the 'November crime', Hitler is arrested after seeking to take advantage of the chaotic conditions.

Inflation Data Source

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: “Inflation Rate in 1923 | Canada Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 21 Mar. 2018,

» Read more about inflation.