$1 in 1950 → $1.13 in 1956

Canada Inflation Calculator

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$1 in 1950 → $1.13 in 1956

Canadian Inflation Rate, $1 in 1950 to 1956

According to Statistics Canada consumer price index, prices in 1956 are 13.18% higher than average prices throughout 1950. The dollar experienced an average inflation rate of 2.08% per year during this period, meaning the real value of a dollar decreased.

In other words, $1 in 1950 is equivalent in purchasing power to about $1.13 in 1956, a difference of $0.13 over 6 years.

The 1950 inflation rate was 5.74%. The inflation rate in 1956 was 2.82%. The 1956 inflation rate is lower compared to the average inflation rate of 3.57% per year between 1956 and 2019.


Inflation from 1950 to 1956
Cumulative price change 13.18%
Average inflation rate 2.08%
Converted amount ($1 base) $1.13
Price difference ($1 base) $0.13
CPI in 1950 12.900
CPI in 1956 14.600
Inflation in 1950 5.74%
Inflation in 1956 2.82%

CAD inflation chart from 1914 to 2017


Buying power of $1 in 1950

This chart shows calculation of buying power equivalence, often referred to as "the value of a dollar" over time for $1 in 1950 (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
1950 $1.00 5.74%
1951 $1.11 10.85%
1952 $1.09 -1.40%
1953 $1.09 0.00%
1954 $1.09 0.00%
1955 $1.10 0.71%
1956 $1.13 2.82%
1957 $1.16 2.05%
1958 $1.19 2.68%
1959 $1.20 1.31%
1960 $1.22 1.29%
1961 $1.22 0.00%
1962 $1.24 1.91%
1963 $1.26 1.88%
1964 $1.29 1.84%
1965 $1.33 3.01%
1966 $1.37 3.51%
1967 $1.43 3.95%
1968 $1.49 4.35%
1969 $1.56 4.69%
1970 $1.57 1.00%
1971 $1.65 4.93%
1972 $1.74 5.16%
1973 $1.90 9.38%
1974 $2.14 12.65%
1975 $2.34 9.42%
1976 $2.47 5.63%
1977 $2.71 9.40%
1978 $2.94 8.60%
1979 $3.22 9.76%
1980 $3.58 11.06%
1981 $4.02 12.12%
1982 $4.39 9.27%
1983 $4.59 4.59%
1984 $4.76 3.72%
1985 $4.97 4.40%
1986 $5.18 4.21%
1987 $5.40 4.19%
1988 $5.60 3.88%
1989 $5.90 5.26%
1990 $6.19 4.99%
1991 $6.43 3.75%
1992 $6.57 2.17%
1993 $6.67 1.65%
1994 $6.69 0.23%
1995 $6.81 1.74%
1996 $6.95 2.16%
1997 $7.01 0.78%
1998 $7.08 1.00%
1999 $7.26 2.63%
2000 $7.50 3.20%
2001 $7.55 0.72%
2002 $7.84 3.80%
2003 $8.00 2.08%
2004 $8.17 2.13%
2005 $8.34 2.09%
2006 $8.48 1.67%
2007 $8.68 2.38%
2008 $8.78 1.16%
2009 $8.90 1.32%
2010 $9.11 2.35%
2011 $9.32 2.30%
2012 $9.40 0.83%
2013 $9.51 1.24%
2014 $9.65 1.47%
2015 $9.81 1.61%
2016 $9.95 1.50%
2017 $10.11 1.56%
2018 $10.14 0.31%
2019 $10.34 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, 1950 to 1956

This inflation calculator uses the following inflation rate formula:

CPI in 1956CPI in 1950
×
1950 CAD value
=
1956 CAD value

Then plug in historical CPI values. The Canadian CPI was 12.9 in the year 1950 and 14.6 in 1956:

14.612.9
×
$1
=
$1.13

$1 in 1950 has the same "purchasing power" or "buying power" as $1.13 in 1956.

To get the total inflation rate for the 6 years between 1950 and 1956, we use the following formula:

CPI in 1956 - CPI in 1950CPI in 1950
×
100
=
Cumulative inflation rate (6 years)

Plugging in the values to this equation, we get:

14.6 - 12.912.9
×
100
=
13%

News headlines from 1950

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

  • Jerusalem is proclaimed the capital of Israel by Knesset
  • North Korea invades South Korea.
  • Harry Truman announces that America will seek to develop a hydrogen bomb.
  • Chinese forces occupy Tibet.

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 1950 → 1956 | Canada Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 6 Dec. 2019, https://www.officialdata.org/1950-CAD-in-1956?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 1950 to 1956
Cumulative price change 13.18%
Average inflation rate 2.08%
Converted amount ($1 base) $1.13
Price difference ($1 base) $0.13
CPI in 1950 12.900
CPI in 1956 14.600
Inflation in 1950 5.74%
Inflation in 1956 2.82%
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