According to Statistics Canada consumer price index, prices in 1974 are 8.61% lower than average prices since 1975. The Canadian dollar experienced an average inflation rate of 9.42% per year during this period, causing the real value of a dollar to decrease.

In other words, $1 in 1975 is equivalent in purchasing power to about $0.91 in 1974.

The 1974 inflation rate was 12.65%. The inflation rate in 1975 was 9.42%. The 1975 inflation rate is higher compared to the average inflation rate of 3.41% per year between 1975 and 2020.

⌃

Average inflation rate | 9.42% |

Converted amount ($1 base) | $0.91 |

Price difference ($1 base) | $-0.09 |

CPI in 1975 | 30.200 |

CPI in 1974 | 27.600 |

Inflation in 1974 | 12.65% |

Inflation in 1975 | 9.42% |

Our calculations use the following inflation rate formula to calculate the change in value between 1974 and 1975:

CPI in 1974
CPI in 1975

×

1975 CAD value

=

1974 CAD value

Then plug in historical CPI values. The Canadian CPI was 30.2 in the year 1975 and 27.6 in 1974:

27.630.2

×

$1

=

$1 in 1975 has the same "purchasing power" or "buying power" as $0.91 in 1974.

To get the total inflation rate for the 1 years between 1974 and 1975, we use the following formula:

CPI in 1974 - CPI in 1975CPI in 1975

×

100

=

Plugging in the values to this equation, we get:

27.6 - 30.230.2

×

100

=

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

- Margaret Thatcher becomes leader of the British Conservative Party, after defeating Edward Heath.
- Ethiopia abrogates its 3,000-year-old monarchy.
- Bill Gates and Paul Allen found Microsoft.
- The US signals the beginning of the end of its involvement Vietnam, after it begins to evacuate its citizens from Saigon.
- Gough Whitlam is removed by Governor General Sir John Kerr: the first time an elected Prime Minister had been deposed in 200 years (Australia).

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 1975 → 1974 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 7 Aug. 2020, https://www.officialdata.org/canada/inflation/1975?amount=1&endYear=1974.

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.

Average inflation rate | 9.42% |

Converted amount ($1 base) | $0.91 |

Price difference ($1 base) | $-0.09 |

CPI in 1975 | 30.200 |

CPI in 1974 | 27.600 |

Inflation in 1974 | 12.65% |

Inflation in 1975 | 9.42% |