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# Canadian inflation rate in 1944: -2.17%

### Inflation in 1944 and Its Effect on Dollar Value

Purchasing power increased by 2.17% in 1944 compared to 1943. On average, you would have to spend 2.17% less money in 1944 than in 1943 for the same item. This is an example of deflation.

In other words, \$1 in 1943 is equivalent in purchasing power to about \$0.98 in 1944.

The 1943 inflation rate was 2.22%. The inflation rate in 1944 was -2.17%. The 1944 inflation rate is lower compared to the average inflation rate of 3.64% per year between 1944 and 2020.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1944 was 9.00. It was 9.20 in the previous year, 1943. The difference in CPI between the years is used by Statistics Canada to officially determine inflation. Because the 1944 CPI is less than 1943 CPI, negative inflation (also known as deflation) has occurred.

 Average inflation rate -2.17% Converted amount (\$1 base) \$0.98 Price difference (\$1 base) \$-0.02 CPI in 1943 9.200 CPI in 1944 9.000 Inflation in 1943 2.22% Inflation in 1944 -2.17%

### How to Calculate Inflation Rate for \$1, 1943 to 1944

This inflation calculator uses the following inflation rate formula:

CPI in 1944CPI in 1943
×
=

Then plug in historical CPI values. The Canadian CPI was 9.2 in the year 1943 and 9 in 1944:

99.2
×
\$1
=
\$0.98

\$1 in 1943 has the same "purchasing power" or "buying power" as \$0.98 in 1944.

To get the total inflation rate for the 1 years between 1943 and 1944, we use the following formula:

CPI in 1944 - CPI in 1943CPI in 1943
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

9 - 9.29.2
×
100
=
-2%

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

• German general Friedrich von Paul surrenders to the Russians in Stalingrad.
• The Japanese evacuate Guadalcanal, leading to one of the great WWII battles on the Solomon Islands
• The Krakow Ghetto is liquidated by the Nazis.
• The RAF bomb the Möhne and Eder dams in the Ruhr valley, in an operation known as Chastise.
• Himmler orders the extermination of all the Nazi ghettos in Poland.

### 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 1944 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 23 Jan. 2020, https://www.officialdata.org/CAD-inflation-rate-in-1944.