Canadian inflation rate in 1977: 9.40%

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Inflation in 1977 and Its Effect on Dollar Value

Purchasing power decreased by 9.40% in 1977 compared to the previous year, 1976. On average, you would have to spend 9.40% more money in 1977 than in 1976 for the same item.

In other words, CA$100 in 1976 is equivalent in purchasing power to CA$109.40 in 1977.

The 1976 inflation rate was 5.63%. The inflation rate in 1977 was 9.40%. The 1977 inflation rate is higher compared to the average inflation rate of 3.32% per year between 1977 and 2018.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1977 was 34.9. It was 31.9 in the previous year, 1976. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.


Inflation from 1976 to 1977
Average inflation rate 9.40%
Converted amount (CA$100 base) CA$109.40
Price difference (CA$100 base) CA$9.40
CPI in 1976 31.9
CPI in 1977 34.9
Inflation in 1976 5.63%
Inflation in 1977 9.40%


CAD inflation chart from 1914 to 2017


How to Calculate Inflation Rate for CA$100, 1976 to 1977

This inflation calculator uses the following inflation rate formula:

CPI in 1977CPI in 1976
×
1976 CAD value
=
1977 CAD value

Then plug in historical CPI values. The Canadian CPI was 31.9 in the year 1976 and 34.9 in 1977:

34.931.9
×
CA$100
=
CA$109.40

CA$100 in 1976 has the same "purchasing power" or "buying power" as CA$109.40 in 1977.

To get the total inflation rate for the 1 years between 1976 and 1977, we use the following formula:

CPI in 1977 - CPI in 1976CPI in 1976
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

34.9 - 31.931.9
×
100
=
9%

News headlines from 1976

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

  • Steve Jobs and Stebe Wozniak invent the Apple Computer in Job's parents' garage.
  • The US Viking 1 lands on Mars, becoming the first man-built object on the Red Planet.
  • Osvaldo Dorticos Torrado is replaced as Cuban President by Fidel Castro.

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 1977 | Canada Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 17 Oct. 2018, https://www.officialdata.org/CAD-inflation-rate-in-1977.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


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