Canadian inflation rate in 1956: 2.82%

Canada Inflation Calculator

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Inflation since 1956 and its effect on dollar value

The consumer price index (CPI) in 1956 was 14.6. It was 14.2 in the previous year. This change in CPI is used by Statistics Canada to calculate inflation.

According to Statistics Canada consumer price index, the dollar experienced an average inflation rate of 3.63% per year. Prices in 2018 are 813.0% higher than prices in 1956.

In other words, CA$100 in 1956 is equivalent in purchasing power to CA$913.01 in 2018, a difference of CA$813.01 over 62 years.

The current inflation rate is now 2.22%1. If this number holds, CA$100 today will be equivalent to CA$102.22 next year.

Inflation from 1956 to 2018
Cumulative price change 813.01%
Average inflation rate 3.63%
Converted amount (CA$100 base) CA$913.01
Price difference (CA$100 base) CA$813.01
CPI in 1956 14.6
CPI in 2018 133.3


CAD inflation chart from 1914 to 2017


How to calculate the inflation rate for CA$100 since 1956

This inflation calculator uses the following inflation rate formula:

CPI in 2018 / CPI in 1956 * 1956 CAD value = 2018 CAD value

Then plug in historical CPI values. The Canadian CPI was 14.6 in the year 1956 and 133.3 in 2018:

133.3 / 14.6 * CA$100 = CA$913.01

CA$100 in 1956 has the same "purchasing power" or "buying power" as CA$913.01 in 2018.


Buying power of CA$100 since 1956

Below are calculations of buying power over time for CA$100 in 1956 (price index tracking began in 1914). Each of these CAD amounts below is equivalent in terms of what it could buy at the time:

Year CAD Value Inflation Rate
1956 CA$100.00 2.82%
1957 CA$102.05 2.05%
1958 CA$104.79 2.68%
1959 CA$106.16 1.31%
1960 CA$107.53 1.29%
1961 CA$107.53 0.00%
1962 CA$109.59 1.91%
1963 CA$111.64 1.88%
1964 CA$113.70 1.84%
1965 CA$117.12 3.01%
1966 CA$121.23 3.51%
1967 CA$126.03 3.95%
1968 CA$131.51 4.35%
1969 CA$137.67 4.69%
1970 CA$139.04 1.00%
1971 CA$145.89 4.93%
1972 CA$153.42 5.16%
1973 CA$167.81 9.38%
1974 CA$189.04 12.65%
1975 CA$206.85 9.42%
1976 CA$218.49 5.63%
1977 CA$239.04 9.40%
1978 CA$259.59 8.60%
1979 CA$284.93 9.76%
1980 CA$316.44 11.06%
1981 CA$354.79 12.12%
1982 CA$387.67 9.27%
1983 CA$405.48 4.59%
1984 CA$420.55 3.72%
1985 CA$439.04 4.40%
1986 CA$457.53 4.21%
1987 CA$476.71 4.19%
1988 CA$495.21 3.88%
1989 CA$521.23 5.26%
1990 CA$547.26 4.99%
1991 CA$567.81 3.75%
1992 CA$580.14 2.17%
1993 CA$589.73 1.65%
1994 CA$591.10 0.23%
1995 CA$601.37 1.74%
1996 CA$614.38 2.16%
1997 CA$619.18 0.78%
1998 CA$625.34 1.00%
1999 CA$641.78 2.63%
2000 CA$662.33 3.20%
2001 CA$667.12 0.72%
2002 CA$692.47 3.80%
2003 CA$706.85 2.08%
2004 CA$721.92 2.13%
2005 CA$736.99 2.09%
2006 CA$749.32 1.67%
2007 CA$767.12 2.38%
2008 CA$776.03 1.16%
2009 CA$786.30 1.32%
2010 CA$804.79 2.35%
2011 CA$823.29 2.30%
2012 CA$830.14 0.83%
2013 CA$840.41 1.24%
2014 CA$852.74 1.47%
2015 CA$866.44 1.61%
2016 CA$879.45 1.50%
2017 CA$893.15 1.56%
2018 CA$913.01 2.22%*
* Not final. See inflation summary for latest details.

News headlines from 1956

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

  • Nikita Khrushchev criticises Stalin at 20th Soviet Party Conference.
  • Morocco declares independence from France, tearing up the Treaty of Fez.
  • IBM introduces the first computer with a hard drive, RAMAC 305, which weighs over one ton.
  • President Eisenhower orders the desegregation of Little Rock schools.
  • Shippingport Atomic Power Station in Pennsylvania becomes the world's first nuclear power station to generate electricity.

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 1956 | Canada Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 Jun. 2018, https://www.officialdata.org/CAD-inflation-rate-in-1956.


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