Canada Inflation Calculator
Inflation in 1976 and Its Effect on Dollar Value
Purchasing power decreased by 5.63% in 1976 compared to the previous year, 1975. On average, you would have to spend 5.63% more money in 1976 than in 1975 for the same item.
In other words, CA$1 in 1975 is equivalent in purchasing power to CA$1.06 in 1976.
The 1975 inflation rate was 9.42%. The inflation rate in 1976 was 5.63%. The 1976 inflation rate is higher compared to the average inflation rate of 3.39% per year between 1976 and 2019.
Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1976 was 31.9. It was 30.2 in the previous year, 1975. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.
⌃
| Average inflation rate | 5.63% |
| Converted amount (CA$1 base) | CA$1.06 |
| Price difference (CA$1 base) | CA$0.06 |
| CPI in 1975 | 30.200 |
| CPI in 1976 | 31.900 |
| Inflation in 1975 | 9.42% |
| Inflation in 1976 | 5.63% |
How to Calculate Inflation Rate for CA$1, 1975 to 1976
This inflation calculator uses the following inflation rate formula:
CPI in 1976CPI in 1975
×
1975 CAD value
=
1976 CAD value
Then plug in historical CPI values. The Canadian CPI was 30.2 in the year 1975 and 31.9 in 1976:
31.930.2
×
CA$1
=
CA$1.06
CA$1 in 1975 has the same "purchasing power" or "buying power" as CA$1.06 in 1976.
To get the total inflation rate for the 1 years between 1975 and 1976, we use the following formula:
CPI in 1976 - CPI in 1975CPI in 1975
×
100
=
Cumulative inflation rate (1 years)
Plugging in the values to this equation, we get:
31.9 - 30.230.2
×
100
=
6%
News headlines from 1975
Politics and news often influence economic performance. Here's what was happening at the time:
- Margaret Thatcher becomes leader of the British Conservative Party, after defeating Edward Heath.
- Ethiopia abrogates its 3,000-year-old monarchy.
- Bill Gates and Paul Allen found Microsoft.
- The US signals the beginning of the end of its involvement Vietnam, after it begins to evacuate its citizens from Saigon.
- Gough Whitlam is removed by Governor General Sir John Kerr: the first time an elected Prime Minister had been deposed in 200 years (Australia).
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 1976 | Canada Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 Jan. 2019, https://www.officialdata.org/CAD-inflation-rate-in-1976.
in2013dollars.com is a reference website maintained by the Official Data Foundation.