Purchasing power decreased by 2.09% in 2005 compared to the previous year, 2004. On average, you would have to spend 2.09% more money in 2005 than in 2004 for the same item.
In other words, CA$1 in 2004 is equivalent in purchasing power to CA$1.02 in 2005.
The 2004 inflation rate was 2.13%. The inflation rate in 2005 was 2.09%. The 2005 inflation rate is higher compared to the average inflation rate of 1.55% per year between 2005 and 2019.
Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 2005 was 107.6. It was 105.4 in the previous year, 2004. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.
|Average inflation rate||2.09%|
|Converted amount (CA$1 base)||CA$1.02|
|Price difference (CA$1 base)||CA$0.02|
|CPI in 2004||105.400|
|CPI in 2005||107.600|
|Inflation in 2004||2.13%|
|Inflation in 2005||2.09%|
This inflation calculator uses the following inflation rate formula:
Then plug in historical CPI values. The Canadian CPI was 105.4 in the year 2004 and 107.6 in 2005:
CA$1 in 2004 has the same "purchasing power" or "buying power" as CA$1.02 in 2005.
To get the total inflation rate for the 1 years between 2004 and 2005, 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 2005 | Canada Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 21 Feb. 2019, https://www.officialdata.org/CAD-inflation-rate-in-2005.
in2013dollars.com is a reference website maintained by the Official Data Foundation.