Canadian inflation rate in 2016: 1.50%

Canada Inflation Calculator

CA$

Canadian Inflation Rate, 2016-2017 (CA$1)

The consumer price index (CPI) in 2016 was 128.4. 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 1.6% higher than prices in 2016.

In other words, CA$1 in the year 2016 is equivalent to CA$1.02 in 2017, a difference of CA$0.02 over 1 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.

Inflation from 2016 to 2017
Cumulative price change 1.56%
Average inflation rate 1.56%
Price difference (CA$1 base) CA$0.02
CPI in 2016 128.4
CPI in 2017 130.4


CAD inflation chart from 1914 to 2017


How to calculate the inflation rate for CA$1 since 2016

Start with the inflation rate formula:

CPI in 2017 / CPI in 2016 * 2016 CAD value = 2017 CAD value

Then plug in historical CPI values. The Canadian CPI was 128.4 in the year 2016 and 130.4 in 2017:

130.4 / 128.4 * CA$1 = CA$1.02

CA$1 in 2016 has the same "purchasing power" as CA$1.02 in 2017.


News headlines from 2016

Politics and news often play an important role in economic performance.

  • The United Kingdom votes to leave the European Union in a referendum, prompting Prime Minister David Cameron to resign.
  • Donald Trump becomes the 45th President of the Unites States.
  • The World Health Organisation confirms the outbreak of the Zika virus.
  • Andrei Karlov, the Russian ambassador to Turkey, is assassinated.

Inflation Data Source: The government of Canada's annual Consumer Price Index (CPI), established in 1914 and computed by Statistics Canada (StatCan).


» Read more about inflation.