The consumer price index (CPI) in 2014 was 124.5. 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 1.56% per year. Prices in 2017 are 4.7% higher than prices in 2014.
In other words, CA$1 in the year 2014 is equivalent to CA$1.05 in 2017, a difference of CA$0.05 over 3 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||4.74%|
|Average inflation rate||1.56%|
|Price difference (CA$1 base)||CA$0.05|
|CPI in 2014||124.5|
|CPI in 2017||130.4|
Politics and news often play an important role in economic performance.