Purchasing power decreased by 2.16% in 1996 compared to the previous year, 1995. On average, you would have to spend 2.16% more money in 1996 than in 1995 for the same item.
In other words, CA$1 in 1995 is equivalent in purchasing power to CA$1.02 in 1996.
The 1995 inflation rate was 1.74%. The inflation rate in 1996 was 2.16%. The 1996 inflation rate is higher compared to the average inflation rate of 1.74% per year between 1996 and 2019.
Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1996 was 89.7. It was 87.8 in the previous year, 1995. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.
|Average inflation rate||2.16%|
|Converted amount (CA$1 base)||CA$1.02|
|Price difference (CA$1 base)||CA$0.02|
|CPI in 1995||87.800|
|CPI in 1996||89.700|
|Inflation in 1995||1.74%|
|Inflation in 1996||2.16%|
This inflation calculator uses the following inflation rate formula:
Then plug in historical CPI values. The Canadian CPI was 87.8 in the year 1995 and 89.7 in 1996:
CA$1 in 1995 has the same "purchasing power" or "buying power" as CA$1.02 in 1996.
To get the total inflation rate for the 1 years between 1995 and 1996, we use the following formula:
Plugging in the values to this equation, we get:
Politics and news often influence economic performance. Here's what was happening at the time:
You may use the following MLA citation for this page: “Inflation Rate in 1996 | Canada Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 18 Feb. 2019, https://www.officialdata.org/CAD-inflation-rate-in-1996.
in2013dollars.com is a reference website maintained by the Official Data Foundation.