The consumer price index (CPI) in 1956 was 14.6. Statistics Canada uses this CPI value to track inflation on a monthly basis.
According to Statistics Canada consumer price index, the dollar experienced an average inflation rate of 3.60% per year. Prices in 2018 are 796.6% higher than prices in 1956.
In other words, CA$1 in the year 1956 is equivalent in purchasing power to CA$8.97 in 2018, a difference of CA$7.97 over 62 years.
The current inflation rate in 2018 is 0.38%1. If this number holds, CA$1 today will be equivalent to CA$1.00 next year.
|Cumulative price change||796.58%|
|Average inflation rate||3.60%|
|Price difference (CA$1 base)||CA$7.97|
|CPI in 1956||14.6|
|CPI in 2018||130.9|
Politics and news often influence economic performance. Here's what was happening at the time:
You may use the following MLA citation for this page: “Inflation Rate in 1956 | Canada Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 15 Feb. 2018, http://www.in2013dollars.com/CAD-inflation-rate-in-1956.