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