Canadian inflation rate in 2002: 3.80%

Canada Inflation Calculator

CA$

Canadian Inflation Rate, 2002-2018 (CA$1)

The consumer price index (CPI) in 2002 was 101.1. Statistics Canada uses this CPI value to track inflation on a monthly basis.

According to Statistics Canada consumer price index, the dollar experienced an average inflation rate of 1.63% per year. Prices in 2018 are 29.5% higher than prices in 2002.

In other words, CA$1 in the year 2002 is equivalent in purchasing power to CA$1.29 in 2018, a difference of CA$0.29 over 16 years.

The current inflation rate in 2018 is 0.38%1. If this number holds, CA$1 today will be equivalent to CA$1.00 next year.

Inflation from 2002 to 2018
Cumulative price change 29.48%
Average inflation rate 1.63%
Price difference (CA$1 base) CA$0.29
CPI in 2002 101.1
CPI in 2018 130.9


CAD inflation chart from 1914 to 2017


How to calculate the inflation rate for CA$1 since 2002

Start with the inflation rate formula:

CPI in 2018 / CPI in 2002 * 2002 CAD value = 2018 CAD value

Then plug in historical CPI values. The Canadian CPI was 101.1 in the year 2002 and 130.9 in 2018:

130.9 / 101.1 * CA$1 = CA$1.29

CA$1 in 2002 has the same "purchasing power" as CA$1.29 in 2018.


News headlines from 2002

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

  • United States deploys conventional forces as part of Operation Anaconda during the US invasion of Afghanistan.
  • Jimmy Carter visits Cuba, marking the first time an American president has visited the Island since 1959.
  • It is announced that Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia, and Slovenia will become members of the European Union from May 1, 2004.

Inflation Data Source

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: β€œInflation Rate in 2002 | Canada Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 21 Feb. 2018, http://www.in2013dollars.com/CAD-inflation-rate-in-2002.


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