# Canadian inflation rate in 2018: 2.27%

\$

## Inflation in 2018 and its effect on dollar value

\$1 in 2017 is equivalent in purchasing power to about \$1.02 in 2018. The dollar had an average inflation rate of 2.27% per year between 2017 and 2018, producing a cumulative price increase of 2.27%. Purchasing power decreased by 2.27% in 2018 compared to 2017. On average, you would have to spend 2.27% more money in 2018 than in 2017 for the same item.

This means that prices in 2018 are 1.02 times as high as average prices since 2017, according to Statistics Canada consumer price index.

The inflation rate in 2017 was 1.60%. The inflation rate in 2018 was 2.27%. The 2018 inflation rate is lower compared to the average inflation rate of 4.00% per year between 2018 and 2023.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 2018 was 133.38. It was 130.43 in the previous year, 2017. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.

 Average inflation rate 2.27% Converted amount\$1 base \$1.02 Price difference\$1 base \$0.02 CPI in 2017 130.425 CPI in 2018 133.383 Inflation in 2017 1.60% Inflation in 2018 2.27% \$1 in 2017 \$1.02 in 2018

## How to calculate inflation rate for \$1, 2017 to 2018

Our calculations use the following inflation rate formula to calculate the change in value between 2017 and 2018:

CPI in 2018 CPI in 2017
×
=

Then plug in historical CPI values. The Canadian CPI was 130.425 in the year 2017 and 133.3833333 in 2018:

133.3833333130.425
×
\$1
=
\$1.02

\$1 in 2017 has the same "purchasing power" or "buying power" as \$1.02 in 2018.

To get the total inflation rate for the 1 years between 2017 and 2018, we use the following formula:

CPI in 2018 - CPI in 2017CPI in 2017
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

133.3833333 - 130.425130.425
×
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 2018 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 22 Sep. 2023, https://www.officialdata.org/CAD-inflation-rate-in-2018.

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. 