Purchasing power decreased by 4.35% in 1968 compared to the previous year, 1967. On average, you would have to spend 4.35% more money in 1968 than in 1967 for the same item.
In other words, CA$1 in 1967 is equivalent in purchasing power to CA$1.04 in 1968.
The 1967 inflation rate was 3.95%. The inflation rate in 1968 was 4.35%. The 1968 inflation rate is higher compared to the average inflation rate of 3.95% per year between 1968 and 2018.
Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1968 was 19.2. It was 18.4 in the previous year, 1967. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.
|Average inflation rate||4.35%|
|Converted amount (CA$1 base)||CA$1.04|
|Price difference (CA$1 base)||CA$0.04|
|CPI in 1967||18.400|
|CPI in 1968||19.200|
|Inflation in 1967||3.95%|
|Inflation in 1968||4.35%|
This inflation calculator uses the following inflation rate formula:
Then plug in historical CPI values. The Canadian CPI was 18.4 in the year 1967 and 19.2 in 1968:
CA$1 in 1967 has the same "purchasing power" or "buying power" as CA$1.04 in 1968.
To get the total inflation rate for the 1 years between 1967 and 1968, we use the following formula:
Plugging in the values to this equation, we get:
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 1968 | Canada Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 16 Dec. 2018, https://www.officialdata.org/CAD-inflation-rate-in-1968.
in2013dollars.com is a reference website maintained by the Official Data Foundation.