# Canadian inflation rate in 1934: 1.41%

## Canada Inflation Calculator

\$

### Inflation in 1934 and Its Effect on Dollar Value

Purchasing power decreased by 1.41% in 1934 compared to 1933. On average, you would have to spend 1.41% more money in 1934 than in 1933 for the same item.

In other words, \$1 in 1933 is equivalent in purchasing power to about \$1.01 in 1934.

The 1933 inflation rate was -2.74%. The inflation rate in 1934 was 1.41%. The 1934 inflation rate is lower compared to the average inflation rate of 3.48% per year between 1934 and 2020.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1934 was 7.20. It was 7.10 in the previous year, 1933. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.

 Average inflation rate 1.41% Converted amount (\$1 base) \$1.01 Price difference (\$1 base) \$0.01 CPI in 1933 7.100 CPI in 1934 7.200 Inflation in 1933 -2.74% Inflation in 1934 1.41%

CAD Inflation since 1914
Annual Rate, Statistics Canada CPI

### How to Calculate Inflation Rate for \$1, 1933 to 1934

This inflation calculator uses the following inflation rate formula:

CPI in 1934CPI in 1933
×
=

Then plug in historical CPI values. The Canadian CPI was 7.1 in the year 1933 and 7.2 in 1934:

7.27.1
×
\$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:

7.2 - 7.17.1
×
100
=
1%

### News headlines from 1933

Politics and news often influence economic performance. Here's what was happening at the time:

• Coining of the name "Pakistan" by Choudhry Rahmat Ali, this is later accepted by Muslims in the Indian sub-continent who use it to push for a separate Muslim homeland in South Asia.
• Adolf Hitler is appointed Reich Chancellor of Germany by President Paul von Hindenburg.
• Franklin D. Roosevelt is inaugurated President of the United States.
• The first Nazi concentration camp, Dachau, is completed.
• The Nazi party is declared the only political party in Germany.

### 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, 6 Apr. 2020, https://www.officialdata.org/CAD-inflation-rate-in-1934.

Special thanks to QuickChart for providing downloadable chart images.

in2013dollars.com is a reference website maintained by the Official Data Foundation.

#### 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.

 Average inflation rate 1.41% Converted amount (\$1 base) \$1.01 Price difference (\$1 base) \$0.01 CPI in 1933 7.100 CPI in 1934 7.200 Inflation in 1933 -2.74% Inflation in 1934 1.41%