# Canadian inflation rate in 1929: 1.00%

\$

## Inflation in 1929 and its effect on dollar value

\$1 in 1928 is equivalent in purchasing power to about \$1.01 in 1929. The dollar had an average inflation rate of 1.00% per year between 1928 and 1929, producing a cumulative price increase of 1.00%. Purchasing power decreased by 1.00% in 1929 compared to 1928. On average, you would have to spend 1.00% more money in 1929 than in 1928 for the same item.

This means that prices in 1929 are 1.01 times higher than average prices since 1928, according to Statistics Canada consumer price index.

The inflation rate in 1928 was 0.74%. The inflation rate in 1929 was 1.00%. The 1929 inflation rate is lower compared to the average inflation rate of 3.06% per year between 1929 and 2022.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1929 was 9.23. It was 9.13 in the previous year, 1928. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.

 Average inflation rate 1.00% Converted amount (\$1 base) \$1.01 Price difference (\$1 base) \$0.01 CPI in 1928 9.133 CPI in 1929 9.225 Inflation in 1928 0.74% Inflation in 1929 1.00% \$1 in 1928 \$1.01 in 1929

## How to calculate inflation rate for \$1, 1928 to 1929

Our calculations use the following inflation rate formula to calculate the change in value between 1928 and 1929:

CPI in 1929 CPI in 1928
×
=

Then plug in historical CPI values. The Canadian CPI was 9.133333333 in the year 1928 and 9.225 in 1929:

9.2259.133333333
×
\$1
=
\$1.01

\$1 in 1928 has the same "purchasing power" or "buying power" as \$1.01 in 1929.

To get the total inflation rate for the 1 years between 1928 and 1929, we use the following formula:

CPI in 1929 - CPI in 1928CPI in 1928
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

9.225 - 9.1333333339.133333333
×
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 1929 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 7 Aug. 2022, https://www.officialdata.org/CAD-inflation-rate-in-1929.

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. 