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, the dollar experienced an average inflation rate of 4.02% per year. Prices in 2017 are 512.2% higher than prices in 1971.
In other words, CA$1 in the year 1971 is equivalent to CA$6.12 in 2017, a difference of CA$5.12 over 46 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||512.21%|
|Average inflation rate||4.02%|
|Price difference (CA$1 base)||CA$5.12|
|CPI in 1971||21.3|
|CPI in 2017||130.4|
Politics and news often play an important role in economic performance.