# Canadian inflation rate in 1934: 1.17%

\$

## Inflation in 1934 and its effect on dollar value

\$1 in 1933 is equivalent in purchasing power to about \$1.01 in 1934. The dollar had an average inflation rate of 1.17% per year between 1933 and 1934, producing a cumulative price increase of 1.17%. Purchasing power decreased by 1.17% in 1934 compared to 1933. On average, you would have to spend 1.17% more money in 1934 than in 1933 for the same item.

This means that prices in 1934 are 1.01 times as high as average prices since 1933, according to Statistics Canada consumer price index.

The inflation rate in 1933 was -4.36%. The inflation rate in 1934 was 1.17%. The 1934 inflation rate is lower compared to the average inflation rate of 3.53% per year between 1934 and 2023.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1934 was 7.22. It was 7.13 in the previous year, 1933. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.

 Average inflation rate 1.17% Converted amount\$1 base \$1.01 Price difference\$1 base \$0.01 CPI in 1933 7.133 CPI in 1934 7.217 Inflation in 1933 -4.36% Inflation in 1934 1.17% \$1 in 1933 \$1.01 in 1934

## How to calculate inflation rate for \$1, 1933 to 1934

Our calculations use the following inflation rate formula to calculate the change in value between 1933 and 1934:

CPI in 1934 CPI in 1933
×
=

Then plug in historical CPI values. The Canadian CPI was 7.133333333 in the year 1933 and 7.216666667 in 1934:

7.2166666677.133333333
×
\$1
=
\$1.01

\$1 in 1933 has the same "purchasing power" or "buying power" as \$1.01 in 1934.

To get the total inflation rate for the 1 years between 1933 and 1934, we use the following formula:

CPI in 1934 - CPI in 1933CPI in 1933
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

7.216666667 - 7.1333333337.133333333
×
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 1934 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 5 Dec. 2023, https://www.officialdata.org/CAD-inflation-rate-in-1934.

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. 