The consumer price index (CPI) in 1962 was 16. 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 3.89% per year. Prices in 2017 are 715.0% higher than prices in 1962.
In other words, CA$1 in the year 1962 is equivalent to CA$8.15 in 2017, a difference of CA$7.15 over 55 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.
|Cumulative price change||715.00%|
|Average inflation rate||3.89%|
|Price difference (CA$1 base)||CA$7.15|
|CPI in 1962||16|
|CPI in 2017||130.4|
Politics and news often play an important role in economic performance.