# Canadian inflation rate in 2017: 1.60%

\$

## Inflation in 2017 and its effect on dollar value

\$1 in 2016 is equivalent in purchasing power to about \$1.02 in 2017. The dollar had an average inflation rate of 1.60% per year between 2016 and 2017, producing a cumulative price increase of 1.60%. Purchasing power decreased by 1.60% in 2017 compared to 2016. On average, you would have to spend 1.60% more money in 2017 than in 2016 for the same item.

This means that prices in 2017 are 1.02 times as high as average prices since 2016, according to Statistics Canada consumer price index.

The inflation rate in 2016 was 1.43%. The inflation rate in 2017 was 1.60%. The 2017 inflation rate is lower compared to the average inflation rate of 3.71% per year between 2017 and 2023.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 2017 was 130.43. It was 128.38 in the previous year, 2016. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.

 Average inflation rate 1.60% Converted amount\$1 base \$1.02 Price difference\$1 base \$0.02 CPI in 2016 128.375 CPI in 2017 130.425 Inflation in 2016 1.43% Inflation in 2017 1.60% \$1 in 2016 \$1.02 in 2017

## How to calculate inflation rate for \$1, 2016 to 2017

Our calculations use the following inflation rate formula to calculate the change in value between 2016 and 2017:

CPI in 2017 CPI in 2016
×
=

Then plug in historical CPI values. The Canadian CPI was 128.375 in the year 2016 and 130.425 in 2017:

130.425128.375
×
\$1
=
\$1.02

\$1 in 2016 has the same "purchasing power" or "buying power" as \$1.02 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:

130.425 - 128.375128.375
×
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 2017 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 22 Sep. 2023, https://www.officialdata.org/CAD-inflation-rate-in-2017.

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. 