Canadian inflation rate in 1956: 2.82%

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Canadian Inflation Rate, 1956-2017 (CA$1)

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, the dollar experienced an average inflation rate of 3.65% per year. Prices in 2017 are 793.2% higher than prices in 1956.

In other words, CA$1 in the year 1956 is equivalent to CA$8.93 in 2017, a difference of CA$7.93 over 61 years.

The current inflation rate in 2017 is 1.56%1. If this number holds, CA$1 today will be equivalent to CA$1.02 next year.

Inflation from 1956 to 2017
Cumulative price change 793.15%
Average inflation rate 3.65%
Price difference (CA$1 base) CA$7.93
CPI in 1956 14.6
CPI in 2017 130.4


CAD inflation chart from 1914 to 2017


How to calculate the inflation rate for CA$1 since 1956

Start with the inflation rate formula:

CPI in 2017 / CPI in 1956 * 1956 CAD value = 2017 CAD value

Then plug in historical CPI values. The Canadian CPI was 14.6 in the year 1956 and 130.4 in 2017:

130.4 / 14.6 * CA$1 = CA$8.93

CA$1 in 1956 has the same "purchasing power" as CA$8.93 in 2017.


News headlines from 1956

Politics and news often play an important role in economic performance.

  • Nikita Khrushchev criticises Stalin at 20th Soviet Party Conference.
  • Morocco declares independence from France, tearing up the Treaty of Fez.
  • IBM introduces the first computer with a hard drive, RAMAC 305, which weighs over one ton.
  • 1957 Great Britain grants the Federation of Malaya independence
  • President Eisenhower orders the desegregation of Little Rock schools
  • Shippingport Atomic Power Station in Pennsylvania, becomes the world's first nuclear power station to generate electricity.

Inflation Data Source: The government of Canada's annual Consumer Price Index (CPI), established in 1914 and computed by Statistics Canada (StatCan).


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