The consumer price index (CPI) in 1974 was 27.6. 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 3.68% per year. Prices in 2017 are 372.5% higher than prices in 1974.
In other words, CA$1 in the year 1974 is equivalent to CA$4.72 in 2017, a difference of CA$3.72 over 43 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||372.46%|
|Average inflation rate||3.68%|
|Price difference (CA$1 base)||CA$3.72|
|CPI in 1974||27.6|
|CPI in 2017||130.4|
Politics and news often play an important role in economic performance.