Canadian inflation rate in 2016: 1.50%

Canada Inflation Calculator

CA$

Canadian Inflation Rate, 2016-2018 (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 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.

Inflation from 2016 to 2018
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


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 2018 / CPI in 2016 * 2016 CAD value = 2018 CAD value

Then plug in historical CPI values. The Canadian CPI was 128.4 in the year 2016 and 130.9 in 2018:

130.9 / 128.4 * CA$1 = CA$1.02

CA$1 in 2016 has the same "purchasing power" as CA$1.02 in 2018.


News headlines from 2016

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

  • 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 United States.
  • The World Health Organisation confirms the outbreak of the Zika virus.
  • Andrei Karlov, the Russian ambassador to Turkey, is assassinated.

Inflation Data Source

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.” FinanceRef Inflation Calculator, Alioth Finance, 22 Jan. 2018, http://www.in2013dollars.com/CAD-inflation-rate-in-2016.


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