The consumer price index (CPI) in 1998 was 91.3. 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 1.89% per year. Prices in 2017 are 42.8% higher than prices in 1998.
In other words, CA$1 in the year 1998 is equivalent to CA$1.43 in 2017, a difference of CA$0.43 over 19 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||42.83%|
|Average inflation rate||1.89%|
|Price difference (CA$1 base)||CA$0.43|
|CPI in 1998||91.3|
|CPI in 2017||130.4|
Politics and news often play an important role in economic performance.