# Canadian inflation rate in 1947: 9.01%

\$

## Inflation in 1947 and its effect on dollar value

\$1 in 1946 is equivalent in purchasing power to about \$1.09 in 1947. The dollar had an average inflation rate of 9.01% per year between 1946 and 1947, producing a cumulative price increase of 9.01%. Purchasing power decreased by 9.01% in 1947 compared to 1946. On average, you would have to spend 9.01% more money in 1947 than in 1946 for the same item.

This means that prices in 1947 are 1.09 times as high as average prices since 1946, according to Statistics Canada consumer price index.

The inflation rate in 1946 was 3.10%. The inflation rate in 1947 was 9.01%. The 1947 inflation rate is higher compared to the average inflation rate of 3.66% per year between 1947 and 2023.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1947 was 10.28. It was 9.43 in the previous year, 1946. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.

 Average inflation rate 9.01% Converted amount\$1 base \$1.09 Price difference\$1 base \$0.09 CPI in 1946 9.433 CPI in 1947 10.283 Inflation in 1946 3.10% Inflation in 1947 9.01% \$1 in 1946 \$1.09 in 1947

## How to calculate inflation rate for \$1, 1946 to 1947

Our calculations use the following inflation rate formula to calculate the change in value between 1946 and 1947:

CPI in 1947 CPI in 1946
×
=

Then plug in historical CPI values. The Canadian CPI was 9.433333333 in the year 1946 and 10.28333333 in 1947:

10.283333339.433333333
×
\$1
=
\$1.09

\$1 in 1946 has the same "purchasing power" or "buying power" as \$1.09 in 1947.

To get the total inflation rate for the 1 years between 1946 and 1947, we use the following formula:

CPI in 1947 - CPI in 1946CPI in 1946
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

10.28333333 - 9.4333333339.433333333
×
100
=
9%

## 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 1947 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 5 Dec. 2023, https://www.officialdata.org/CAD-inflation-rate-in-1947.

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. 