Canadian inflation rate in 1956: 2.82%

Canada Inflation Calculator

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Canadian Inflation Rate, 1956-2018 (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 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.

Inflation from 1956 to 2018
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


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 2018 / CPI in 1956 * 1956 CAD value = 2018 CAD value

Then plug in historical CPI values. The Canadian CPI was 14.6 in the year 1956 and 130.9 in 2018:

130.9 / 14.6 * CA$1 = CA$8.97

CA$1 in 1956 has the same "purchasing power" as CA$8.97 in 2018.


News headlines from 1956

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

  • 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.
  • 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

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 1956 | Canada Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 15 Feb. 2018, http://www.in2013dollars.com/CAD-inflation-rate-in-1956.


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