Canadian inflation rate in 1971: 4.93%

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Canadian Inflation Rate, 1971-2018 (CA$1)

The consumer price index (CPI) in 1971 was 21.3. 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 3.94% per year. Prices in 2018 are 514.6% higher than prices in 1971.

In other words, CA$1 in the year 1971 is equivalent in purchasing power to CA$6.15 in 2018, a difference of CA$5.15 over 47 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 1971 to 2018
Cumulative price change 514.55%
Average inflation rate 3.94%
Price difference (CA$1 base) CA$5.15
CPI in 1971 21.3
CPI in 2018 130.9


CAD inflation chart from 1914 to 2017


How to calculate the inflation rate for CA$1 since 1971

Start with the inflation rate formula:

CPI in 2018 / CPI in 1971 * 1971 CAD value = 2018 CAD value

Then plug in historical CPI values. The Canadian CPI was 21.3 in the year 1971 and 130.9 in 2018:

130.9 / 21.3 * CA$1 = CA$6.15

CA$1 in 1971 has the same "purchasing power" as CA$6.15 in 2018.


News headlines from 1971

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

  • Idi Amin declares himself president of Uganda.
  • The Nasdaq Composite stock market index debuts with fifty companies and a starting value of 100.
  • Indian troops, aided by Bengali guerrillas under Mukti Bahini, are victorious over the Pakistan army, in the battle of Garibpur.

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 1971 | Canada Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 24 Apr. 2018, http://www.in2013dollars.com/CAD-inflation-rate-in-1971.


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