Canadian inflation rate in 1938: -2.56%

Canada Inflation Calculator


Canadian Inflation Rate, 1938-2018 (CA$1)

The consumer price index (CPI) in 1938 was 7.6. 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 3.62% per year. Prices in 2018 are 1622.4% higher than prices in 1938.

In other words, CA$1 in the year 1938 is equivalent in purchasing power to CA$17.22 in 2018, a difference of CA$16.22 over 80 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 1938 to 2018
Cumulative price change 1622.37%
Average inflation rate 3.62%
Price difference (CA$1 base) CA$16.22
CPI in 1938 7.6
CPI in 2018 130.9

CAD inflation chart from 1914 to 2017

How to calculate the inflation rate for CA$1 since 1938

Start with the inflation rate formula:

CPI in 2018 / CPI in 1938 * 1938 CAD value = 2018 CAD value

Then plug in historical CPI values. The Canadian CPI was 7.6 in the year 1938 and 130.9 in 2018:

130.9 / 7.6 * CA$1 = CA$17.22

CA$1 in 1938 has the same "purchasing power" as CA$17.22 in 2018.

News headlines from 1938

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

  • Anthony Eden resigns as United Kingdom's Foreign Secretary after stating that Prime Minister Neville Chamberlain has appeased Nazi Germany.
  • Czechoslovakia is forced to give territory to Germany after the Treaty of Munich was signed by Hitler, Mussolini, Daladier and Chamberlain.
  • Joseph Kennedy is named the 44th US Ambassador to the United Kingdom.

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 1938 | Canada Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 23 Apr. 2018,

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