Canadian inflation rate in 2017: 1.56%

Canada Inflation Calculator

CA$

Inflation in 2017 and Its Effect on Dollar Value

Purchasing power decreased by 1.56% in 2017 compared to the previous year, 2016. On average, you would have to spend 1.56% more money in 2017 than in 2016 for the same item.

In other words, CA$100 in 2016 is equivalent in purchasing power to CA$101.56 in 2017.

The 2016 inflation rate was 1.50%. The inflation rate in 2017 was 1.56%. The 2017 inflation rate is lower compared to the average inflation rate of 2.22% per year between 2017 and 2018.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 2017 was 130.4. It was 128.4 in the previous year, 2016. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.


Inflation from 2016 to 2017
Average inflation rate 1.56%
Converted amount (CA$100 base) CA$101.56
Price difference (CA$100 base) CA$1.56
CPI in 2016 128.4
CPI in 2017 130.4
Inflation in 2016 1.50%
Inflation in 2017 1.56%


CAD inflation chart from 1914 to 2017


How to Calculate Inflation Rate for CA$100, 2016 to 2017

This inflation calculator uses the following inflation rate formula:

CPI in 2017CPI 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:

130.4128.4
×
CA$100
=
CA$101.56

CA$100 in 2016 has the same "purchasing power" or "buying power" as CA$101.56 in 2017.

To get the total inflation rate for the 1 years between 2016 and 2017, we use the following formula:

CPI in 2017 - CPI in 2016CPI in 2016
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

130.4 - 128.4128.4
×
100
=
2%

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.

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 2017 | Canada Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 17 Oct. 2018, https://www.officialdata.org/CAD-inflation-rate-in-2017.

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


» Read more about inflation.