Canadian inflation rate in 2005: 2.21%

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Inflation in 2005 and its effect on dollar value

$1 in 2004 is equivalent in purchasing power to about $1.02 in 2005. The dollar had an average inflation rate of 2.21% per year between 2004 and 2005, producing a cumulative price increase of 2.21%. Purchasing power decreased by 2.21% in 2005 compared to 2004. On average, you would have to spend 2.21% more money in 2005 than in 2004 for the same item.

This means that prices in 2005 are 1.02 times as high as average prices since 2004, according to Statistics Canada consumer price index.

The inflation rate in 2004 was 1.86%. The inflation rate in 2005 was 2.21%. The 2005 inflation rate is higher compared to the average inflation rate of 1.95% per year between 2005 and 2023.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 2005 was 106.98. It was 104.66 in the previous year, 2004. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.

⌃
Inflation from 2004 to 2005
Average inflation rate2.21%
Converted amount
$1 base		$1.02
Price difference
$1 base		$0.02
CPI in 2004104.658
CPI in 2005106.975
Inflation in 20041.86%
Inflation in 20052.21%
$1 in 2004$1.02 in 2005
Recent CAD inflation
Annual Rate, Statistics Canada CPI
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How to calculate inflation rate for $1, 2004 to 2005

Our calculations use the following inflation rate formula to calculate the change in value between 2004 and 2005:

CPI in 2005 CPI in 2004
×
2004 CAD value
=
2005 CAD value

Then plug in historical CPI values. The Canadian CPI was 104.6583333 in the year 2004 and 106.975 in 2005:

106.975104.6583333
×
$1
=
$1.02

$1 in 2004 has the same "purchasing power" or "buying power" as $1.02 in 2005.

To get the total inflation rate for the 1 years between 2004 and 2005, we use the following formula:

CPI in 2005 - CPI in 2004CPI in 2004
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

106.975 - 104.6583333104.6583333
×
100
=
2%

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 2005 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 3 Jun. 2023, https://www.officialdata.org/CAD-inflation-rate-in-2005.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.

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

Ian Webster

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.

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Inflation from 2004 to 2005
Average inflation rate2.21%
Converted amount
$1 base		$1.02
Price difference
$1 base		$0.02
CPI in 2004104.658
CPI in 2005106.975
Inflation in 20041.86%
Inflation in 20052.21%
$1 in 2004$1.02 in 2005