\$1 in 1955 is worth \$0.99 in 1954

\$

Value of \$1 from 1955 to 1954

\$1 in 1955 is equivalent in purchasing power to about \$0.99 in 1954. The dollar had an average inflation rate of 0.71% per year between 1954 and 1955, producing a cumulative price increase of -0.70%.

This means that prices in 1954 are 0.7% lower than average prices since 1955, according to Statistics Canada consumer price index.

The 1954 inflation rate was 0.00%. The inflation rate in 1955 was 0.71%. The 1955 inflation rate is lower compared to the average inflation rate of 3.50% per year between 1955 and 2021.

 Average inflation rate 0.71% Converted amount (\$1 base) \$0.99 Price difference (\$1 base) \$-0.01 CPI in 1955 14.200 CPI in 1954 14.100 Inflation in 1954 0.00% Inflation in 1955 0.71% \$1 in 1955 \$0.99 in 1954

How to Calculate Inflation Rate for \$1, 1954 to 1955

Our calculations use the following inflation rate formula to calculate the change in value between 1954 and 1955:

CPI in 1954 CPI in 1955
×
=

Then plug in historical CPI values. The Canadian CPI was 14.2 in the year 1955 and 14.1 in 1954:

14.114.2
×
\$1
=
\$0.99

\$1 in 1955 has the same "purchasing power" or "buying power" as \$0.99 in 1954.

To get the total inflation rate for the 1 years between 1954 and 1955, we use the following formula:

CPI in 1954 - CPI in 1955CPI in 1955
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

14.1 - 14.214.2
×
100
=
-1%

Politics and news often influence economic performance. Here's what was happening at the time:

• The occupying powers grant full Sovereignty to West Germany.
• The Mainau Declaration against nuclear weapons is signed by 18 Nobel laureates.
• Rosa Parks is arrested in Montgomery, Alabama for refusing to give her seat to a white person and move to the back of the bus.

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 1955 → 1954 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 9 May. 2021, https://www.officialdata.org/canada/inflation/1955?amount=1&endYear=1954.

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.