# Canadian inflation rate in 1917: 17.96%

\$

## Inflation in 1917 and its effect on dollar value

\$1 in 1916 is equivalent in purchasing power to about \$1.18 in 1917. The dollar had an average inflation rate of 17.96% per year between 1916 and 1917, producing a cumulative price increase of 17.96%. Purchasing power decreased by 17.96% in 1917 compared to 1916. On average, you would have to spend 17.96% more money in 1917 than in 1916 for the same item.

This means that prices in 1917 are 1.18 times as high as average prices since 1916, according to Statistics Canada consumer price index.

The inflation rate in 1916 was 8.97%. The inflation rate in 1917 was 17.96%. The 1917 inflation rate is higher compared to the average inflation rate of 2.87% per year between 1917 and 2023.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1917 was 7.88. It was 6.68 in the previous year, 1916. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.

 Average inflation rate 17.96% Converted amount\$1 base \$1.18 Price difference\$1 base \$0.18 CPI in 1916 6.683 CPI in 1917 7.883 Inflation in 1916 8.97% Inflation in 1917 17.96% \$1 in 1916 \$1.18 in 1917

## How to calculate inflation rate for \$1, 1916 to 1917

Our calculations use the following inflation rate formula to calculate the change in value between 1916 and 1917:

CPI in 1917 CPI in 1916
×
=

Then plug in historical CPI values. The Canadian CPI was 6.683333333 in the year 1916 and 7.883333333 in 1917:

7.8833333336.683333333
×
\$1
=
\$1.18

\$1 in 1916 has the same "purchasing power" or "buying power" as \$1.18 in 1917.

To get the total inflation rate for the 1 years between 1916 and 1917, we use the following formula:

CPI in 1917 - CPI in 1916CPI in 1916
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

7.883333333 - 6.6833333336.683333333
×
100
=
18%

## 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 1917 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 5 Dec. 2023, https://www.officialdata.org/CAD-inflation-rate-in-1917.

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. 