Canadian inflation rate in 1921: -12.11%

$

Inflation in 1921 and its effect on dollar value

$1 in 1920 is equivalent in purchasing power to about $0.88 in 1921. The dollar had an average deflation rate of -12.11% per year since 1920, producing a cumulative price change of -12.11%. Purchasing power increased by 12.11% in 1921 compared to 1920. On average, you would have to spend 12.11% less money in 1921 than in 1920 for the same item. This is an example of deflation.

This means that prices in 1921 are 12.11% lower than average prices since 1920, according to Statistics Canada consumer price index.

The inflation rate in 1920 was 16.30%. The inflation rate in 1921 was -12.11%. The 1921 inflation rate is lower compared to the average inflation rate of 2.71% per year between 1921 and 2025.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1921 was 9.98. It was 11.36 in the previous year, 1920. The difference in CPI between the years is used by Statistics Canada to officially determine inflation. Because the 1921 CPI is less than 1920 CPI, negative inflation (also known as deflation) has occurred.

⌃
Inflation from 1920 to 1921
Average inflation rate-12.11%
Converted amount
$1 base		$0.88
Price difference
$1 base		$-0.12
CPI in 192011.358
CPI in 19219.983
Inflation in 192016.30%
Inflation in 1921-12.11%
$1 in 1920$0.88 in 1921
Recent CAD inflation
Annual Rate, Statistics Canada CPI
Download

How to calculate inflation rate for $1, 1920 to 1921

Our calculations use the following inflation rate formula to calculate the change in value between 1920 and 1921:

CPI in 1921 CPI in 1920
×
1920 CAD value
=
1921 CAD value

Then plug in historical CPI values. The Canadian CPI was 11.35833333 in the year 1920 and 9.983333333 in 1921:

9.98333333311.35833333
×
$1
=
$0.88

$1 in 1920 has the same "purchasing power" or "buying power" as $0.88 in 1921.

To get the total inflation rate for the 1 years between 1920 and 1921, we use the following formula:

CPI in 1921 - CPI in 1920CPI in 1920
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

9.983333333 - 11.3583333311.35833333
×
100
=
-12%

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 1921 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 9 Jul. 2025, https://www.officialdata.org/CAD-inflation-rate-in-1921.

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.

Ian Webster

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.

Email · LinkedIn · Twitter

» Read more about inflation and investment.

Inflation from 1920 to 1921
Average inflation rate-12.11%
Converted amount
$1 base		$0.88
Price difference
$1 base		$-0.12
CPI in 192011.358
CPI in 19219.983
Inflation in 192016.30%
Inflation in 1921-12.11%
$1 in 1920$0.88 in 1921