Purchasing power increased by 2.17% in 1944 compared to the previous year, 1943. On average, you would have to spend 2.17% less money in 1944 than in 1943 for the same item. This is an example of deflation.
In other words, CA$1 in 1943 is equivalent in purchasing power to CA$0.98 in 1944.
The 1943 inflation rate was 2.22%. The inflation rate in 1944 was -2.17%. The 1944 inflation rate is lower compared to the average inflation rate of 3.66% per year between 1944 and 2019.
Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1944 was 9. It was 9.2 in the previous year, 1943. The difference in CPI between the years is used by Statistics Canada to officially determine inflation. Because the 1944 CPI is less than 1943 CPI, negative inflation (also known as deflation) has occurred.
|Average inflation rate||-2.17%|
|Converted amount (CA$1 base)||CA$0.98|
|Price difference (CA$1 base)||CA$-0.02|
|CPI in 1943||9.200|
|CPI in 1944||9.000|
|Inflation in 1943||2.22%|
|Inflation in 1944||-2.17%|
This inflation calculator uses the following inflation rate formula:
Then plug in historical CPI values. The Canadian CPI was 9.2 in the year 1943 and 9 in 1944:
CA$1 in 1943 has the same "purchasing power" or "buying power" as CA$0.98 in 1944.
To get the total inflation rate for the 1 years between 1943 and 1944, 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 1944 | Canada Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 18 Feb. 2019, https://www.officialdata.org/CAD-inflation-rate-in-1944.
in2013dollars.com is a reference website maintained by the Official Data Foundation.