# Canadian inflation rate in 1970: 3.35%

\$

## Inflation in 1970 and its effect on dollar value

\$1 in 1969 is equivalent in purchasing power to about \$1.03 in 1970. The dollar had an average inflation rate of 3.35% per year between 1969 and 1970, producing a cumulative price increase of 3.35%. Purchasing power decreased by 3.35% in 1970 compared to 1969. On average, you would have to spend 3.35% more money in 1970 than in 1969 for the same item.

This means that prices in 1970 are 1.03 times higher than average prices since 1969, according to Statistics Canada consumer price index.

The inflation rate in 1969 was 4.56%. The inflation rate in 1970 was 3.35%. The 1970 inflation rate is lower compared to the average inflation rate of 3.84% per year between 1970 and 2022.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1970 was 20.33. It was 19.68 in the previous year, 1969. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.

 Average inflation rate 3.35% Converted amount (\$1 base) \$1.03 Price difference (\$1 base) \$0.03 CPI in 1969 19.675 CPI in 1970 20.333 Inflation in 1969 4.56% Inflation in 1970 3.35% \$1 in 1969 \$1.03 in 1970

## How to calculate inflation rate for \$1, 1969 to 1970

Our calculations use the following inflation rate formula to calculate the change in value between 1969 and 1970:

CPI in 1970 CPI in 1969
×
=

Then plug in historical CPI values. The Canadian CPI was 19.675 in the year 1969 and 20.33333333 in 1970:

20.3333333319.675
×
\$1
=
\$1.03

\$1 in 1969 has the same "purchasing power" or "buying power" as \$1.03 in 1970.

To get the total inflation rate for the 1 years between 1969 and 1970, we use the following formula:

CPI in 1970 - CPI in 1969CPI in 1969
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

20.33333333 - 19.67519.675
×
100
=
3%

## 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 1970 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 27 May. 2022, https://www.officialdata.org/CAD-inflation-rate-in-1970.

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. 