The consumer price index (CPI) in 1996 was 89.7. 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 1.80% per year. Prices in 2017 are 45.4% higher than prices in 1996.
In other words, CA$1 in the year 1996 is equivalent to CA$1.45 in 2017, a difference of CA$0.45 over 21 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||45.37%|
|Average inflation rate||1.80%|
|Price difference (CA$1 base)||CA$0.45|
|CPI in 1996||89.7|
|CPI in 2017||130.4|
Politics and news often play an important role in economic performance.