Canadian inflation rate in 2005: 2.09%

Canada Inflation Calculator

CA$

Inflation in 2005 and Its Effect on Dollar Value

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 1.66% per year between 2005 and 2018.

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.


Inflation from 2004 to 2005
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%


CAD inflation chart from 1914 to 2017


How to Calculate Inflation Rate for CA$1, 2004 to 2005

This inflation calculator uses the following inflation rate formula:

CPI in 2005CPI in 2004
×
2004 CAD value
=
2005 CAD value

Then plug in historical CPI values. The Canadian CPI was 105.4 in the year 2004 and 107.6 in 2005:

107.6105.4
×
CA$1
=
CA$1.02

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:

CPI in 2005 - CPI in 2004CPI in 2004
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

107.6 - 105.4105.4
×
100
=
2%

News headlines from 2004

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

  • The Humanitarian Ceasefire Agreement is signed by the Sudanese government and two rebel groups.
  • Massachusetts becomes the first United States state to legalize same-sex marriage.
  • The Indonesian elections are won by Susilo Bambang Yudhoyono.

Data Source & Citation

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: “Inflation Rate in 2005 | Canada Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 11 Dec. 2018, https://www.officialdata.org/CAD-inflation-rate-in-2005.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


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