Canadian inflation rate in 1917: 17.96%

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Inflation in 1917 and its effect on dollar value

$1 in 1916 is equivalent in purchasing power to about $1.18 in 1917. The dollar had an average inflation rate of 17.96% per year between 1916 and 1917, producing a cumulative price increase of 17.96%. Purchasing power decreased by 17.96% in 1917 compared to 1916. On average, you would have to spend 17.96% more money in 1917 than in 1916 for the same item.

This means that prices in 1917 are 1.18 times as high as average prices since 1916, according to Statistics Canada consumer price index.

The inflation rate in 1916 was 8.97%. The inflation rate in 1917 was 17.96%. The 1917 inflation rate is higher compared to the average inflation rate of 2.85% per year between 1917 and 2024.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1917 was 7.88. It was 6.68 in the previous year, 1916. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.

⌃
Inflation from 1916 to 1917
Average inflation rate17.96%
Converted amount
$1 base		$1.18
Price difference
$1 base		$0.18
CPI in 19166.683
CPI in 19177.883
Inflation in 19168.97%
Inflation in 191717.96%
$1 in 1916$1.18 in 1917
Recent CAD inflation
Annual Rate, Statistics Canada CPI
Download

How to calculate inflation rate for $1, 1916 to 1917

Our calculations use the following inflation rate formula to calculate the change in value between 1916 and 1917:

CPI in 1917 CPI in 1916
×
1916 CAD value
=
1917 CAD value

Then plug in historical CPI values. The Canadian CPI was 6.683333333 in the year 1916 and 7.883333333 in 1917:

7.8833333336.683333333
×
$1
=
$1.18

$1 in 1916 has the same "purchasing power" or "buying power" as $1.18 in 1917.

To get the total inflation rate for the 1 years between 1916 and 1917, we use the following formula:

CPI in 1917 - CPI in 1916CPI in 1916
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

7.883333333 - 6.6833333336.683333333
×
100
=
18%

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 1917 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 30 Oct. 2024, https://www.officialdata.org/CAD-inflation-rate-in-1917.

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.

Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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» Read more about inflation and investment.

Inflation from 1916 to 1917
Average inflation rate17.96%
Converted amount
$1 base		$1.18
Price difference
$1 base		$0.18
CPI in 19166.683
CPI in 19177.883
Inflation in 19168.97%
Inflation in 191717.96%
$1 in 1916$1.18 in 1917