$1 in 1970 is equivalent in purchasing power to about $1.03 in 1971. The dollar had an average inflation rate of 2.70% per year between 1970 and 1971, producing a cumulative price increase of 2.70%.
This means that prices in 1971 are 1.03 times as high as average prices since 1970, according to Statistics Canada consumer price index.
The inflation rate in 1970 was 3.35%. The inflation rate in 1971 was 2.70%. The 1971 inflation rate is lower compared to the average inflation rate of 3.90% per year between 1971 and 2024.
Average inflation rate | 2.70% |
Converted amount $1 base | $1.03 |
Price difference $1 base | $0.03 |
CPI in 1970 | 20.333 |
CPI in 1971 | 20.883 |
Inflation in 1970 | 3.35% |
Inflation in 1971 | 2.70% |
$1 in 1970 | $1.03 in 1971 |
Our calculations use the following inflation rate formula to calculate the change in value between 1970 and 1971:
Then plug in historical CPI values. The Canadian CPI was 20.33333333 in the year 1970 and 20.88333333 in 1971:
$1 in 1970 has the same "purchasing power" or "buying power" as $1.03 in 1971.
To get the total inflation rate for the 1 years between 1970 and 1971, we use the following formula:
Plugging in the values to this equation, we get:
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: “$1 in 1970 → 1971 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 29 Apr. 2024, https://www.officialdata.org/canada/inflation/1970?amount=1&endYear=1971.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
in2013dollars.com is a reference website maintained by the Official Data Foundation.
Average inflation rate | 2.70% |
Converted amount $1 base | $1.03 |
Price difference $1 base | $0.03 |
CPI in 1970 | 20.333 |
CPI in 1971 | 20.883 |
Inflation in 1970 | 3.35% |
Inflation in 1971 | 2.70% |
$1 in 1970 | $1.03 in 1971 |