$1 in 1955 is equivalent in purchasing power to about $1.07 in 1958, an increase of $0.07 over 3 years. The dollar had an average inflation rate of 2.34% per year between 1955 and 1958, producing a cumulative price increase of 7.19%.
This means that prices in 1958 are 1.07 times as high as average prices since 1955, according to Statistics Canada consumer price index.
The inflation rate in 1955 was 0.18%. The inflation rate in 1958 was 2.36%. The 1958 inflation rate is lower compared to the average inflation rate of 3.62% per year between 1958 and 2024.
Cumulative price change | 7.19% |
Average inflation rate | 2.34% |
Converted amount $1 base | $1.07 |
Price difference $1 base | $0.07 |
CPI in 1955 | 14.133 |
CPI in 1958 | 15.150 |
Inflation in 1955 | 0.18% |
Inflation in 1958 | 2.36% |
$1 in 1955 | $1.07 in 1958 |
This chart shows a calculation of buying power equivalence for $1 in 1955 (price index tracking began in 1914).
For example, if you started with $1, you would need to end with $1.07 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $1 is equivalent to $1.07 over time, that means that the "real value" of a single Canadian dollar decreases over time. In other words, a dollar will pay for fewer items at the store.
This effect explains how inflation erodes the value of a dollar over time. By calculating the value in 1955 dollars, the chart below shows how $1 is worth less over 3 years.
According to Statistics Canada, each of these CAD amounts below is equal in terms of what it could buy at the time:
This conversion table shows various other 1955 amounts in 1958 dollars, based on the 7.19% change in prices:
Initial value | Equivalent value |
---|---|
$1 dollar in 1955 | $1.07 dollars in 1958 |
$5 dollars in 1955 | $5.36 dollars in 1958 |
$10 dollars in 1955 | $10.72 dollars in 1958 |
$50 dollars in 1955 | $53.60 dollars in 1958 |
$100 dollars in 1955 | $107.19 dollars in 1958 |
$500 dollars in 1955 | $535.97 dollars in 1958 |
$1,000 dollars in 1955 | $1,071.93 dollars in 1958 |
$5,000 dollars in 1955 | $5,359.67 dollars in 1958 |
$10,000 dollars in 1955 | $10,719.34 dollars in 1958 |
$50,000 dollars in 1955 | $53,596.70 dollars in 1958 |
$100,000 dollars in 1955 | $107,193.40 dollars in 1958 |
$500,000 dollars in 1955 | $535,966.98 dollars in 1958 |
$1,000,000 dollars in 1955 | $1,071,933.96 dollars in 1958 |
Our calculations use the following inflation rate formula to calculate the change in value between 1955 and 1958:
Then plug in historical CPI values. The Canadian CPI was 14.13333333 in the year 1955 and 15.15 in 1958:
$1 in 1955 has the same "purchasing power" or "buying power" as $1.07 in 1958.
To get the total inflation rate for the 3 years between 1955 and 1958, we use the following formula:
Plugging in the values to this equation, we get:
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 → 1958 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 26 Apr. 2024, https://www.officialdata.org/canada/inflation/1955?amount=1&endYear=1958.
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.
Cumulative price change | 7.19% |
Average inflation rate | 2.34% |
Converted amount $1 base | $1.07 |
Price difference $1 base | $0.07 |
CPI in 1955 | 14.133 |
CPI in 1958 | 15.150 |
Inflation in 1955 | 0.18% |
Inflation in 1958 | 2.36% |
$1 in 1955 | $1.07 in 1958 |