# Canadian inflation rate in 1938: 0.54%

\$

## Inflation in 1938 and its effect on dollar value

\$1 in 1937 is equivalent in purchasing power to about \$1.01 in 1938. The dollar had an average inflation rate of 0.54% per year between 1937 and 1938, producing a cumulative price increase of 0.54%. Purchasing power decreased by 0.54% in 1938 compared to 1937. On average, you would have to spend 0.54% more money in 1938 than in 1937 for the same item.

This means that prices in 1938 are 1.01 times as high as average prices since 1937, according to Statistics Canada consumer price index.

The inflation rate in 1937 was 3.60%. The inflation rate in 1938 was 0.54%. The 1938 inflation rate is lower compared to the average inflation rate of 3.65% per year between 1938 and 2023.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1938 was 7.71. It was 7.67 in the previous year, 1937. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.

 Average inflation rate 0.54% Converted amount\$1 base \$1.01 Price difference\$1 base \$0.01 CPI in 1937 7.667 CPI in 1938 7.708 Inflation in 1937 3.60% Inflation in 1938 0.54% \$1 in 1937 \$1.01 in 1938

## How to calculate inflation rate for \$1, 1937 to 1938

Our calculations use the following inflation rate formula to calculate the change in value between 1937 and 1938:

CPI in 1938 CPI in 1937
×
=

Then plug in historical CPI values. The Canadian CPI was 7.666666667 in the year 1937 and 7.708333333 in 1938:

7.7083333337.666666667
×
\$1
=
\$1.01

\$1 in 1937 has the same "purchasing power" or "buying power" as \$1.01 in 1938.

To get the total inflation rate for the 1 years between 1937 and 1938, we use the following formula:

CPI in 1938 - CPI in 1937CPI in 1937
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

7.708333333 - 7.6666666677.666666667
×
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 1938 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 21 Sep. 2023, https://www.officialdata.org/CAD-inflation-rate-in-1938.

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