# Canadian inflation rate in 1958: 2.36%

\$

## Inflation in 1958 and its effect on dollar value

\$1 in 1957 is equivalent in purchasing power to about \$1.02 in 1958. The dollar had an average inflation rate of 2.36% per year between 1957 and 1958, producing a cumulative price increase of 2.36%. Purchasing power decreased by 2.36% in 1958 compared to 1957. On average, you would have to spend 2.36% more money in 1958 than in 1957 for the same item.

This means that prices in 1958 are 1.02 times as high as average prices since 1957, according to Statistics Canada consumer price index.

The inflation rate in 1957 was 3.32%. The inflation rate in 1958 was 2.36%. The 1958 inflation rate is lower compared to the average inflation rate of 3.72% per year between 1958 and 2023.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1958 was 15.15. It was 14.80 in the previous year, 1957. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.

 Average inflation rate 2.36% Converted amount\$1 base \$1.02 Price difference\$1 base \$0.02 CPI in 1957 14.800 CPI in 1958 15.150 Inflation in 1957 3.32% Inflation in 1958 2.36% \$1 in 1957 \$1.02 in 1958

## How to calculate inflation rate for \$1, 1957 to 1958

Our calculations use the following inflation rate formula to calculate the change in value between 1957 and 1958:

CPI in 1958 CPI in 1957
×
=

Then plug in historical CPI values. The Canadian CPI was 14.8 in the year 1957 and 15.15 in 1958:

15.1514.8
×
\$1
=
\$1.02

\$1 in 1957 has the same "purchasing power" or "buying power" as \$1.02 in 1958.

To get the total inflation rate for the 1 years between 1957 and 1958, we use the following formula:

CPI in 1958 - CPI in 1957CPI in 1957
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

15.15 - 14.814.8
×
100
=
2%

## 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 1958 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 1 Oct. 2023, https://www.officialdata.org/CAD-inflation-rate-in-1958.

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. 