# Canadian inflation rate in 1928: 0.74%

\$

## Inflation in 1928 and its effect on dollar value

\$1 in 1927 is equivalent in purchasing power to about \$1.01 in 1928. The dollar had an average inflation rate of 0.74% per year between 1927 and 1928, producing a cumulative price increase of 0.74%. Purchasing power decreased by 0.74% in 1928 compared to 1927. On average, you would have to spend 0.74% more money in 1928 than in 1927 for the same item.

This means that prices in 1928 are 1.01 times as high as average prices since 1927, according to Statistics Canada consumer price index.

The inflation rate in 1927 was -1.45%. The inflation rate in 1928 was 0.74%. The 1928 inflation rate is lower compared to the average inflation rate of 3.07% per year between 1928 and 2023.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1928 was 9.13. It was 9.07 in the previous year, 1927. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.

 Average inflation rate 0.74% Converted amount\$1 base \$1.01 Price difference\$1 base \$0.01 CPI in 1927 9.067 CPI in 1928 9.133 Inflation in 1927 -1.45% Inflation in 1928 0.74% \$1 in 1927 \$1.01 in 1928

## How to calculate inflation rate for \$1, 1927 to 1928

Our calculations use the following inflation rate formula to calculate the change in value between 1927 and 1928:

CPI in 1928 CPI in 1927
×
=

Then plug in historical CPI values. The Canadian CPI was 9.066666667 in the year 1927 and 9.133333333 in 1928:

9.1333333339.066666667
×
\$1
=
\$1.01

\$1 in 1927 has the same "purchasing power" or "buying power" as \$1.01 in 1928.

To get the total inflation rate for the 1 years between 1927 and 1928, we use the following formula:

CPI in 1928 - CPI in 1927CPI in 1927
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

9.133333333 - 9.0666666679.066666667
×
100
=
1%

## 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 1928 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 27 Sep. 2023, https://www.officialdata.org/CAD-inflation-rate-in-1928.

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. 