# Canadian inflation rate in 1964: 1.91%

\$

## Inflation in 1964 and its effect on dollar value

\$1 in 1963 is equivalent in purchasing power to about \$1.02 in 1964. The dollar had an average inflation rate of 1.91% per year between 1963 and 1964, producing a cumulative price increase of 1.91%. Purchasing power decreased by 1.91% in 1964 compared to 1963. On average, you would have to spend 1.91% more money in 1964 than in 1963 for the same item.

This means that prices in 1964 are 1.02 times higher than average prices since 1963, according to Statistics Canada consumer price index.

The inflation rate in 1963 was 1.63%. The inflation rate in 1964 was 1.91%. The 1964 inflation rate is lower compared to the average inflation rate of 3.91% per year between 1964 and 2022.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1964 was 16.43. It was 16.13 in the previous year, 1963. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.

 Average inflation rate 1.91% Converted amount (\$1 base) \$1.02 Price difference (\$1 base) \$0.02 CPI in 1963 16.125 CPI in 1964 16.433 Inflation in 1963 1.63% Inflation in 1964 1.91% \$1 in 1963 \$1.02 in 1964

## How to calculate inflation rate for \$1, 1963 to 1964

Our calculations use the following inflation rate formula to calculate the change in value between 1963 and 1964:

CPI in 1964 CPI in 1963
×
=

Then plug in historical CPI values. The Canadian CPI was 16.125 in the year 1963 and 16.43333333 in 1964:

16.4333333316.125
×
\$1
=
\$1.02

\$1 in 1963 has the same "purchasing power" or "buying power" as \$1.02 in 1964.

To get the total inflation rate for the 1 years between 1963 and 1964, we use the following formula:

CPI in 1964 - CPI in 1963CPI in 1963
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

16.43333333 - 16.12516.125
×
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 1964 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 7 Aug. 2022, https://www.officialdata.org/CAD-inflation-rate-in-1964.

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in2013dollars.com is a reference website maintained by the Official Data Foundation. 