# Canadian inflation rate in 1916: 8.97%

\$

## Inflation in 1916 and its effect on dollar value

\$1 in 1915 is equivalent in purchasing power to about \$1.09 in 1916. The dollar had an average inflation rate of 8.97% per year between 1915 and 1916, producing a cumulative price increase of 8.97%. Purchasing power decreased by 8.97% in 1916 compared to 1915. On average, you would have to spend 8.97% more money in 1916 than in 1915 for the same item.

This means that prices in 1916 are 1.09 times higher than average prices since 1915, according to Statistics Canada consumer price index.

The inflation rate in 1915 was 2.08%. The inflation rate in 1916 was 8.97%. The 1916 inflation rate is higher compared to the average inflation rate of 2.94% per year between 1916 and 2022.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1916 was 6.68. It was 6.13 in the previous year, 1915. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.

 Average inflation rate 8.97% Converted amount (\$1 base) \$1.09 Price difference (\$1 base) \$0.09 CPI in 1915 6.133 CPI in 1916 6.683 Inflation in 1915 2.08% Inflation in 1916 8.97% \$1 in 1915 \$1.09 in 1916

## How to calculate inflation rate for \$1, 1915 to 1916

Our calculations use the following inflation rate formula to calculate the change in value between 1915 and 1916:

CPI in 1916 CPI in 1915
×
=

Then plug in historical CPI values. The Canadian CPI was 6.133333333 in the year 1915 and 6.683333333 in 1916:

6.6833333336.133333333
×
\$1
=
\$1.09

\$1 in 1915 has the same "purchasing power" or "buying power" as \$1.09 in 1916.

To get the total inflation rate for the 1 years between 1915 and 1916, we use the following formula:

CPI in 1916 - CPI in 1915CPI in 1915
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

6.683333333 - 6.1333333336.133333333
×
100
=
9%

## 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: “Inflation Rate in 1916 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 27 May. 2022, https://www.officialdata.org/CAD-inflation-rate-in-1916.

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. 