# Canadian inflation rate in 1955: 0.71%

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### Inflation in 1955 and Its Effect on Dollar Value

Purchasing power decreased by 0.71% in 1955 compared to 1954. On average, you would have to spend 0.71% more money in 1955 than in 1954 for the same item.

In other words, \$1 in 1954 is equivalent in purchasing power to about \$1.01 in 1955.

The 1954 inflation rate was 0.00%. The inflation rate in 1955 was 0.71%. The 1955 inflation rate is lower compared to the average inflation rate of 3.54% per year between 1955 and 2020.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1955 was 14.20. It was 14.10 in the previous year, 1954. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.

 Average inflation rate 0.71% Converted amount (\$1 base) \$1.01 Price difference (\$1 base) \$0.01 CPI in 1954 14.100 CPI in 1955 14.200 Inflation in 1954 0.00% Inflation in 1955 0.71%

### How to Calculate Inflation Rate for \$1, 1954 to 1955

This inflation calculator uses the following inflation rate formula:

CPI in 1955CPI in 1954
×
=

Then plug in historical CPI values. The Canadian CPI was 14.1 in the year 1954 and 14.2 in 1955:

14.214.1
×
\$1
=
\$1.01

\$1 in 1954 has the same "purchasing power" or "buying power" as \$1.01 in 1955.

To get the total inflation rate for the 1 years between 1954 and 1955, we use the following formula:

CPI in 1955 - CPI in 1954CPI in 1954
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

14.2 - 14.114.1
×
100
=
1%

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

• IBM gives the first public demonstration of a machine translation system in their New York, head office.
• Colonel Gamal Abdal Nasser becomes Prime Minister of Egypt.
• 7 years of fighting ends in Indochina after a formal peace agreement is made between the French and the Communist Viet Minh.

### 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 1955 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 6 Apr. 2020, https://www.officialdata.org/CAD-inflation-rate-in-1955.