Canadian inflation rate in 2008: 1.16%

Canada Inflation Calculator

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Canadian Inflation Rate, 2008-2018 (CA$1)

The consumer price index (CPI) in 2008 was 113.3. 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 1.45% per year. Prices in 2018 are 15.5% higher than prices in 2008.

In other words, CA$1 in the year 2008 is equivalent in purchasing power to CA$1.16 in 2018, a difference of CA$0.16 over 10 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 2008 to 2018
Cumulative price change 15.53%
Average inflation rate 1.45%
Price difference (CA$1 base) CA$0.16
CPI in 2008 113.3
CPI in 2018 130.9


CAD inflation chart from 1914 to 2017


How to calculate the inflation rate for CA$1 since 2008

Start with the inflation rate formula:

CPI in 2018 / CPI in 2008 * 2008 CAD value = 2018 CAD value

Then plug in historical CPI values. The Canadian CPI was 113.3 in the year 2008 and 130.9 in 2018:

130.9 / 113.3 * CA$1 = CA$1.16

CA$1 in 2008 has the same "purchasing power" as CA$1.16 in 2018.


News headlines from 2008

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

  • Black Monday: stock markets crash all over the globe, resulting in enormous drops in global stock markets and halts in trading.
  • Fidel Castro retires as Cuban President due to ill health, after nearly 50 years in power.
  • Barak Obama becomes the first African American to receive the presidential nomination of his party.

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: “Inflation Rate in 2008 | Canada Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 23 Apr. 2018, http://www.in2013dollars.com/CAD-inflation-rate-in-2008.


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