CA\$

Canadian inflation rate in 1968: 4.35%

Inflation in 1968 and Its Effect on Dollar Value

Purchasing power decreased by 4.35% in 1968 compared to 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 about 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 3.87% per year between 1968 and 2019.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1968 was 19.20. It was 18.40 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%

How to Calculate Inflation Rate for CA\$1, 1967 to 1968

This inflation calculator uses the following inflation rate formula:

CPI in 1968CPI in 1967
×
=

Then plug in historical CPI values. The Canadian CPI was 18.4 in the year 1967 and 19.2 in 1968:

19.218.4
×
CA\$1
=
CA\$1.04

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:

CPI in 1968 - CPI in 1967CPI in 1967
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

19.2 - 18.418.4
×
100
=
4%

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

• The largest US airborne assault since WWII occurs in Vietnam, known as Operation Junction City: 25,000 United States and South Vietnamese troops attack the Viet Cong.
• The world's first ATM machine is installed in London.
• The 6-day War begins between Israel and the Arabs.

Data Source & Citation

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 1968 | Canada Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 26 Aug. 2019, https://www.officialdata.org/CAD-inflation-rate-in-1968.