# Canadian inflation rate in 1959: 1.21%

\$

## Inflation in 1959 and its effect on dollar value

\$1 in 1958 is equivalent in purchasing power to about \$1.01 in 1959. The dollar had an average inflation rate of 1.21% per year between 1958 and 1959, producing a cumulative price increase of 1.21%. Purchasing power decreased by 1.21% in 1959 compared to 1958. On average, you would have to spend 1.21% more money in 1959 than in 1958 for the same item.

This means that prices in 1959 are 1.01 times as high as average prices since 1958, according to Statistics Canada consumer price index.

The inflation rate in 1958 was 2.36%. The inflation rate in 1959 was 1.21%. The 1959 inflation rate is lower compared to the average inflation rate of 3.75% per year between 1959 and 2023.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1959 was 15.33. It was 15.15 in the previous year, 1958. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.

 Average inflation rate 1.21% Converted amount\$1 base \$1.01 Price difference\$1 base \$0.01 CPI in 1958 15.150 CPI in 1959 15.333 Inflation in 1958 2.36% Inflation in 1959 1.21% \$1 in 1958 \$1.01 in 1959

## How to calculate inflation rate for \$1, 1958 to 1959

Our calculations use the following inflation rate formula to calculate the change in value between 1958 and 1959:

CPI in 1959 CPI in 1958
×
=

Then plug in historical CPI values. The Canadian CPI was 15.15 in the year 1958 and 15.33333333 in 1959:

15.3333333315.15
×
\$1
=
\$1.01

\$1 in 1958 has the same "purchasing power" or "buying power" as \$1.01 in 1959.

To get the total inflation rate for the 1 years between 1958 and 1959, we use the following formula:

CPI in 1959 - CPI in 1958CPI in 1958
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

15.33333333 - 15.1515.15
×
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 1959 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 22 Sep. 2023, https://www.officialdata.org/CAD-inflation-rate-in-1959.

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. 