# Canadian inflation rate in 1954: 0.65%

\$

## Inflation in 1954 and its effect on dollar value

\$1 in 1953 is equivalent in purchasing power to about \$1.01 in 1954. The dollar had an average inflation rate of 0.65% per year between 1953 and 1954, producing a cumulative price increase of 0.65%. Purchasing power decreased by 0.65% in 1954 compared to 1953. On average, you would have to spend 0.65% more money in 1954 than in 1953 for the same item.

This means that prices in 1954 are 1.01 times as high as average prices since 1953, according to Statistics Canada consumer price index.

The inflation rate in 1953 was -1.00%. The inflation rate in 1954 was 0.65%. The 1954 inflation rate is lower compared to the average inflation rate of 3.50% per year between 1954 and 2023.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1954 was 14.11. It was 14.02 in the previous year, 1953. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.

 Average inflation rate 0.65% Converted amount\$1 base \$1.01 Price difference\$1 base \$0.01 CPI in 1953 14.017 CPI in 1954 14.108 Inflation in 1953 -1.00% Inflation in 1954 0.65% \$1 in 1953 \$1.01 in 1954

## How to calculate inflation rate for \$1, 1953 to 1954

Our calculations use the following inflation rate formula to calculate the change in value between 1953 and 1954:

CPI in 1954 CPI in 1953
×
=

Then plug in historical CPI values. The Canadian CPI was 14.01666667 in the year 1953 and 14.10833333 in 1954:

14.1083333314.01666667
×
\$1
=
\$1.01

\$1 in 1953 has the same "purchasing power" or "buying power" as \$1.01 in 1954.

To get the total inflation rate for the 1 years between 1953 and 1954, we use the following formula:

CPI in 1954 - CPI in 1953CPI in 1953
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

14.10833333 - 14.0166666714.01666667
×
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 1954 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 2 Apr. 2023, https://www.officialdata.org/CAD-inflation-rate-in-1954.

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. 