Inflation in 1961 and its effect on dollar value
$1 in 1960 is equivalent in purchasing power to about $1.01 in 1961. The dollar had an average inflation rate of 1.02% per year between 1960 and 1961, producing a cumulative price increase of 1.02%. Purchasing power decreased by 1.02% in 1961 compared to 1960. On average, you would have to spend 1.02% more money in 1961 than in 1960 for the same item.
This means that prices in 1961 are 1.01 times as high as average prices since 1960, according to Statistics Canada consumer price index.
The inflation rate in 1960 was 1.36%. The inflation rate in 1961 was 1.02%. The 1961 inflation rate is lower compared to the average inflation rate of 3.72% per year between 1961 and 2023.
Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1961 was 15.70. It was 15.54 in the previous year, 1960. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.
⌃
| Average inflation rate | 1.02% |
| Converted amount ($1 base) | $1.01 |
| Price difference ($1 base) | $0.01 |
| CPI in 1960 | 15.542 |
| CPI in 1961 | 15.700 |
| Inflation in 1960 | 1.36% |
| Inflation in 1961 | 1.02% |
| $1 in 1960 | $1.01 in 1961 |
How to calculate inflation rate for $1, 1960 to 1961
Our calculations use the following inflation rate formula to calculate the change in value between 1960 and 1961:
CPI in 1961 CPI in 1960
×
1960 CAD value
=
1961 CAD value
Then plug in historical CPI values. The Canadian CPI was 15.54166667 in the year 1960 and 15.7 in 1961:
15.715.54166667
×
$1
=
$1.01
$1 in 1960 has the same "purchasing power" or "buying power" as $1.01 in 1961.
To get the total inflation rate for the 1 years between 1960 and 1961, we use the following formula:
CPI in 1961 - CPI in 1960CPI in 1960
×
100
=
Cumulative inflation rate (1 years)
Plugging in the values to this equation, we get:
15.7 - 15.5416666715.54166667
×
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 1961 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 24 Mar. 2023, https://www.officialdata.org/CAD-inflation-rate-in-1961.
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.
| Average inflation rate | 1.02% |
| Converted amount ($1 base) | $1.01 |
| Price difference ($1 base) | $0.01 |
| CPI in 1960 | 15.542 |
| CPI in 1961 | 15.700 |
| Inflation in 1960 | 1.36% |
| Inflation in 1961 | 1.02% |
| $1 in 1960 | $1.01 in 1961 |