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 consumer price index, the dollar experienced an average inflation rate of 0.97% per year. Prices in 2018 are 1.9% higher than prices in 2016.
In other words, CA$1 in the year 2016 is equivalent in purchasing power to CA$1.02 in 2018, a difference of CA$0.02 over 2 years.
The current inflation rate in 2018 is 0.38%1. If this number holds, CA$1 today will be equivalent to CA$1.00 next year.
|Cumulative price change||1.95%|
|Average inflation rate||0.97%|
|Price difference (CA$1 base)||CA$0.02|
|CPI in 2016||128.4|
|CPI in 2018||130.9|
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.” FinanceRef Inflation Calculator, Alioth Finance, 19 Apr. 2018, http://www.in2013dollars.com/CAD-inflation-rate-in-2016.