Purchasing power decreased by 0.78% in 1997 compared to 1996. On average, you would have to spend 0.78% more money in 1997 than in 1996 for the same item.
In other words, CA$1 in 1996 is equivalent in purchasing power to about CA$1.01 in 1997.
The 1996 inflation rate was 2.16%. The inflation rate in 1997 was 0.78%. The 1997 inflation rate is lower compared to the average inflation rate of 1.78% per year between 1997 and 2019.
Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1997 was 90.40. It was 89.70 in the previous year, 1996. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.
|Average inflation rate||0.78%|
|Converted amount (CA$1 base)||CA$1.01|
|Price difference (CA$1 base)||CA$0.01|
|CPI in 1996||89.700|
|CPI in 1997||90.400|
|Inflation in 1996||2.16%|
|Inflation in 1997||0.78%|
This inflation calculator uses the following inflation rate formula:
Then plug in historical CPI values. The Canadian CPI was 89.7 in the year 1996 and 90.4 in 1997:
CA$1 in 1996 has the same "purchasing power" or "buying power" as CA$1.01 in 1997.
To get the total inflation rate for the 1 years between 1996 and 1997, 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 1997 | Canada Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 24 Apr. 2019, https://www.officialdata.org/CAD-inflation-rate-in-1997.
Special thanks to QuickChart for providing downloadable chart images.
in2013dollars.com is a reference website maintained by the Official Data Foundation.