Purchasing power decreased by 2.22% in 1943 compared to the previous year, 1942. On average, you would have to spend 2.22% more money in 1943 than in 1942 for the same item.
In other words, CA$1 in 1942 is equivalent in purchasing power to CA$1.02 in 1943.
The 1942 inflation rate was 3.45%. The inflation rate in 1943 was 2.22%. The 1943 inflation rate is lower compared to the average inflation rate of 3.58% per year between 1943 and 2019.
Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1943 was 9.2. It was 9 in the previous year, 1942. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.
|Average inflation rate||2.22%|
|Converted amount (CA$1 base)||CA$1.02|
|Price difference (CA$1 base)||CA$0.02|
|CPI in 1942||9.000|
|CPI in 1943||9.200|
|Inflation in 1942||3.45%|
|Inflation in 1943||2.22%|
This inflation calculator uses the following inflation rate formula:
Then plug in historical CPI values. The Canadian CPI was 9 in the year 1942 and 9.2 in 1943:
CA$1 in 1942 has the same "purchasing power" or "buying power" as CA$1.02 in 1943.
To get the total inflation rate for the 1 years between 1942 and 1943, 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 1943 | Canada Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 24 Mar. 2019, https://www.officialdata.org/CAD-inflation-rate-in-1943.
Special thanks to QuickChart for providing downloadable chart images.
in2013dollars.com is a reference website maintained by the Official Data Foundation.