Canadian inflation rate in 2016: 1.50%

Canada Inflation Calculator

CA$

Inflation in 2016 and Its Effect on Dollar Value

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$100 in 2015 is equivalent in purchasing power to CA$101.50 in 2016.

The 2015 inflation rate was 1.61%. The inflation rate in 2016 was 1.50%. The 2016 inflation rate is lower compared to the average inflation rate of 1.89% per year between 2016 and 2018.

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.


Inflation from 2015 to 2016
Average inflation rate 1.50%
Converted amount (CA$100 base) CA$101.50
Price difference (CA$100 base) CA$1.50
CPI in 2015 126.5
CPI in 2016 128.4
Inflation in 2015 1.61%
Inflation in 2016 1.50%


CAD inflation chart from 1914 to 2017


How to Calculate Inflation Rate for CA$100, 2015 to 2016

This inflation calculator uses the following inflation rate formula:

CPI in 2016CPI in 2015
×
2015 CAD value
=
2016 CAD value

Then plug in historical CPI values. The Canadian CPI was 126.5 in the year 2015 and 128.4 in 2016:

128.4126.5
×
CA$100
=
CA$101.50

CA$100 in 2015 has the same "purchasing power" or "buying power" as CA$101.50 in 2016.

To get the total inflation rate for the 1 years between 2015 and 2016, we use the following formula:

CPI in 2016 - CPI in 2015CPI in 2015
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

128.4 - 126.5126.5
×
100
=
2%

News headlines from 2015

Politics and news often influence economic performance. Here's what was happening at the time:

  • Barack Obama and Raul Castro, hold the first meeting between Cuban and American leaders since the Cuban Revolution.
  • The population of India reaches 1 billion (officially). The billionth baby was named Astha Arora.
  • Donald Trump announces his intention to join the US presidential campaign.
  • China brings an end to its one child policy, 35 years after it was first introduced.

Data Source & Citation

Raw data for these calculations comes from the government of Canada's annual Consumer Price Index (CPI), established in 1914 and computed by Statistics Canada (StatCan).

You may use the following MLA citation for this page: “Inflation Rate in 2016 | Canada Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 17 Oct. 2018, https://www.officialdata.org/CAD-inflation-rate-in-2016.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


» Read more about inflation.