Purchasing power decreased by 1.50% in 2016 compared to the previous year, 2015. On average, you would have to spend 1.50% more money in 2016 than in 2015 for the same item.
In other words, CA$1 in 2015 is equivalent in purchasing power to CA$1.02 in 2016.
The 2015 inflation rate was 1.61%. The inflation rate in 2016 was 1.50%. The 2016 inflation rate is higher compared to the average inflation rate of 1.28% per year between 2016 and 2019.
Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 2016 was 128.4. It was 126.5 in the previous year, 2015. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.
|Average inflation rate||1.50%|
|Converted amount (CA$1 base)||CA$1.02|
|Price difference (CA$1 base)||CA$0.02|
|CPI in 2015||126.500|
|CPI in 2016||128.400|
|Inflation in 2015||1.61%|
|Inflation in 2016||1.50%|
This inflation calculator uses the following inflation rate formula:
Then plug in historical CPI values. The Canadian CPI was 126.5 in the year 2015 and 128.4 in 2016:
CA$1 in 2015 has the same "purchasing power" or "buying power" as CA$1.02 in 2016.
To get the total inflation rate for the 1 years between 2015 and 2016, 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 2016 | Canada Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 20 Feb. 2019, https://www.officialdata.org/CAD-inflation-rate-in-2016.
in2013dollars.com is a reference website maintained by the Official Data Foundation.