The consumer price index (CPI) in 2012 was 121.2. 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 1.47% per year. Prices in 2017 are 7.6% higher than prices in 2012.
In other words, CA$1 in the year 2012 is equivalent to CA$1.08 in 2017, a difference of CA$0.08 over 5 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||7.59%|
|Average inflation rate||1.47%|
|Price difference (CA$1 base)||CA$0.08|
|CPI in 2012||121.2|
|CPI in 2017||130.4|
Politics and news often play an important role in economic performance.