$1 in 1920 → $0.81 in 1924

Canada Inflation Calculator

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$1 in 1920 → $0.81 in 1924

Canadian Inflation Rate, $1 in 1920 to 1924

According to Statistics Canada consumer price index, prices in 1924 are 18.75% lower than average prices throughout 1920. The dollar experienced an average deflation rate of -5.06% per year during this period, meaning the real value of a dollar increased.

In other words, $1 in 1920 is equivalent in purchasing power to about $0.81 in 1924, a difference of $-0.19 over 4 years.

The 1920 inflation rate was 9.80%. The inflation rate in 1924 was -1.09%. The 1924 inflation rate is lower compared to the average inflation rate of 2.87% per year between 1924 and 2019.


Inflation from 1920 to 1924
Cumulative price change -18.75%
Average inflation rate -5.06%
Converted amount ($1 base) $0.81
Price difference ($1 base) $-0.19
CPI in 1920 11.200
CPI in 1924 9.100
Inflation in 1920 9.80%
Inflation in 1924 -1.09%

CAD inflation chart from 1914 to 2017


Buying power of $1 in 1920

This chart shows calculation of buying power equivalence, often referred to as "the value of a dollar" over time for $1 in 1920 (price index tracking began in 1914).

According to Statistics Canada, each of these CAD amounts below is equal in terms of what it could buy at the time:

Year Dollar Value Inflation Rate
1920 $1.00 9.80%
1921 $0.84 -16.07%
1922 $0.82 -2.13%
1923 $0.82 0.00%
1924 $0.81 -1.09%
1925 $0.83 2.20%
1926 $0.82 -1.08%
1927 $0.81 -1.09%
1928 $0.82 1.10%
1929 $0.84 2.17%
1930 $0.79 -6.38%
1931 $0.71 -10.23%
1932 $0.65 -7.59%
1933 $0.63 -2.74%
1934 $0.64 1.41%
1935 $0.66 2.78%
1936 $0.67 1.35%
1937 $0.70 4.00%
1938 $0.68 -2.56%
1939 $0.70 2.63%
1940 $0.73 5.13%
1941 $0.78 6.10%
1942 $0.80 3.45%
1943 $0.82 2.22%
1944 $0.80 -2.17%
1945 $0.82 2.22%
1946 $0.87 5.43%
1947 $0.99 14.43%
1948 $1.08 9.01%
1949 $1.09 0.83%
1950 $1.15 5.74%
1951 $1.28 10.85%
1952 $1.26 -1.40%
1953 $1.26 0.00%
1954 $1.26 0.00%
1955 $1.27 0.71%
1956 $1.30 2.82%
1957 $1.33 2.05%
1958 $1.37 2.68%
1959 $1.38 1.31%
1960 $1.40 1.29%
1961 $1.40 0.00%
1962 $1.43 1.91%
1963 $1.46 1.88%
1964 $1.48 1.84%
1965 $1.53 3.01%
1966 $1.58 3.51%
1967 $1.64 3.95%
1968 $1.71 4.35%
1969 $1.79 4.69%
1970 $1.81 1.00%
1971 $1.90 4.93%
1972 $2.00 5.16%
1973 $2.19 9.38%
1974 $2.46 12.65%
1975 $2.70 9.42%
1976 $2.85 5.63%
1977 $3.12 9.40%
1978 $3.38 8.60%
1979 $3.71 9.76%
1980 $4.13 11.06%
1981 $4.63 12.12%
1982 $5.05 9.27%
1983 $5.29 4.59%
1984 $5.48 3.72%
1985 $5.72 4.40%
1986 $5.96 4.21%
1987 $6.21 4.19%
1988 $6.46 3.88%
1989 $6.79 5.26%
1990 $7.13 4.99%
1991 $7.40 3.75%
1992 $7.56 2.17%
1993 $7.69 1.65%
1994 $7.71 0.23%
1995 $7.84 1.74%
1996 $8.01 2.16%
1997 $8.07 0.78%
1998 $8.15 1.00%
1999 $8.37 2.63%
2000 $8.63 3.20%
2001 $8.70 0.72%
2002 $9.03 3.80%
2003 $9.21 2.08%
2004 $9.41 2.13%
2005 $9.61 2.09%
2006 $9.77 1.67%
2007 $10.00 2.38%
2008 $10.12 1.16%
2009 $10.25 1.32%
2010 $10.49 2.35%
2011 $10.73 2.30%
2012 $10.82 0.83%
2013 $10.96 1.24%
2014 $11.12 1.47%
2015 $11.29 1.61%
2016 $11.46 1.50%
2017 $11.64 1.56%
2018 $11.68 0.31%
2019 $11.91 1.99%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

How to Calculate Inflation Rate for $1, 1920 to 1924

This inflation calculator uses the following inflation rate formula:

CPI in 1924CPI in 1920
×
1920 CAD value
=
1924 CAD value

Then plug in historical CPI values. The Canadian CPI was 11.2 in the year 1920 and 9.1 in 1924:

9.111.2
×
$1
=
$0.81

$1 in 1920 has the same "purchasing power" or "buying power" as $0.81 in 1924.

To get the total inflation rate for the 4 years between 1920 and 1924, we use the following formula:

CPI in 1924 - CPI in 1920CPI in 1920
×
100
=
Cumulative inflation rate (4 years)

Plugging in the values to this equation, we get:

9.1 - 11.211.2
×
100
=
-19%

News headlines from 1920

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

  • The League of Nations' first assembly takes place in Paris.
  • The British Parliament passes the Fourth Home Rule Act, dividing Ireland into two parts and leading to a yearlong Anglo-Irish war in the southern counties.
  • The Catholic Church canonizes Joan of Arc, formally making her a saint.
  • The 19th Amendment to the constitution is ratified, granting U.S. woman suffrage for the first time.

Data Source & Citation

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 1920 → 1924 | Canada Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 6 Dec. 2019, https://www.officialdata.org/1920-CAD-in-1924?amount=1.

Special thanks to QuickChart for providing downloadable chart images.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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» Read more about inflation and investment.

Inflation from 1920 to 1924
Cumulative price change -18.75%
Average inflation rate -5.06%
Converted amount ($1 base) $0.81
Price difference ($1 base) $-0.19
CPI in 1920 11.200
CPI in 1924 9.100
Inflation in 1920 9.80%
Inflation in 1924 -1.09%
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