# Canadian inflation rate in 1967: 3.95%

## Canada Inflation Calculator

\$

### Inflation in 1967 and Its Effect on Dollar Value

Purchasing power decreased by 3.95% in 1967 compared to 1966. On average, you would have to spend 3.95% more money in 1967 than in 1966 for the same item.

In other words, \$1 in 1966 is equivalent in purchasing power to about \$1.04 in 1967.

The 1966 inflation rate was 3.51%. The inflation rate in 1967 was 3.95%. The 1967 inflation rate is higher compared to the average inflation rate of 3.85% per year between 1967 and 2020.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1967 was 18.40. It was 17.70 in the previous year, 1966. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.

 Average inflation rate 3.95% Converted amount (\$1 base) \$1.04 Price difference (\$1 base) \$0.04 CPI in 1966 17.700 CPI in 1967 18.400 Inflation in 1966 3.51% Inflation in 1967 3.95%

CAD Inflation since 1914
Annual Rate, Statistics Canada CPI

### How to Calculate Inflation Rate for \$1, 1966 to 1967

This inflation calculator uses the following inflation rate formula:

CPI in 1967CPI in 1966
×
=

Then plug in historical CPI values. The Canadian CPI was 17.7 in the year 1966 and 18.4 in 1967:

18.417.7
×
\$1
=
\$1.04

\$1 in 1966 has the same "purchasing power" or "buying power" as \$1.04 in 1967.

To get the total inflation rate for the 1 years between 1966 and 1967, we use the following formula:

CPI in 1967 - CPI in 1966CPI in 1966
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

18.4 - 17.717.7
×
100
=
4%

### News headlines from 1966

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

• Soviet Luna 9 lands on the Moon.
• Demonstrations are held against the Vietnam War in the United States, Europe and Australia.
• A treaty prohibiting the use of nuclear weapons in outer space is signed by the United States and the USSR.

### 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 1967 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 2 Apr. 2020, https://www.officialdata.org/CAD-inflation-rate-in-1967.

Special thanks to QuickChart for providing downloadable chart images.

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

#### About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

 Average inflation rate 3.95% Converted amount (\$1 base) \$1.04 Price difference (\$1 base) \$0.04 CPI in 1966 17.700 CPI in 1967 18.400 Inflation in 1966 3.51% Inflation in 1967 3.95%