# \$1 in 1940 is worth \$1.06 in 1941

\$

## Value of \$1 from 1940 to 1941

According to Statistics Canada consumer price index, prices in 1941 are 6.10% higher than average prices since 1940. The Canadian dollar experienced an average inflation rate of 6.10% per year during this period, causing the real value of a dollar to decrease.

In other words, \$1 in 1940 is equivalent in purchasing power to about \$1.06 in 1941.

The 1940 inflation rate was 5.13%. The inflation rate in 1941 was 6.10%. The 1941 inflation rate is higher compared to the average inflation rate of 3.55% per year between 1941 and 2020.

 Average inflation rate 6.10% Converted amount (\$1 base) \$1.06 Price difference (\$1 base) \$0.06 CPI in 1940 8.200 CPI in 1941 8.700 Inflation in 1940 5.13% Inflation in 1941 6.10%

## How to Calculate Inflation Rate for \$1, 1940 to 1941

Our calculations use the following inflation rate formula to calculate the change in value between 1940 and 1941:

CPI in 1941 CPI in 1940
×
=

Then plug in historical CPI values. The Canadian CPI was 8.2 in the year 1940 and 8.7 in 1941:

8.78.2
×
\$1
=
\$1.06

\$1 in 1940 has the same "purchasing power" or "buying power" as \$1.06 in 1941.

To get the total inflation rate for the 1 years between 1940 and 1941, we use the following formula:

CPI in 1941 - CPI in 1940CPI in 1940
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

8.7 - 8.28.2
×
100
=
6%

## 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: “\$1 in 1940 → 1941 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 21 Oct. 2020, https://www.officialdata.org/canada/inflation/1940?amount=1&endYear=1941.

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. 