The consumer price index (CPI) in 2004 was 105.4. 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 1.65% per year. Prices in 2017 are 23.7% higher than prices in 2004.
In other words, CA$1 in the year 2004 is equivalent to CA$1.24 in 2017, a difference of CA$0.24 over 13 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||23.72%|
|Average inflation rate||1.65%|
|Price difference (CA$1 base)||CA$0.24|
|CPI in 2004||105.4|
|CPI in 2017||130.4|
Politics and news often play an important role in economic performance.