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 2.95% per year between 2018 and 2024.

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.


Inflation from 2017 to 2018
Average inflation rate2.27%
Converted amount
$1 base
$1.02
Price difference
$1 base
$0.02
CPI in 2017130.425
CPI in 2018133.383
Inflation in 20171.60%
Inflation in 20182.27%
$1 in 2017$1.02 in 2018

Recent CAD inflation
Annual Rate, Statistics Canada CPI
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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
×
2017 CAD value
=
2018 CAD value

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, 19 Mar. 2024, https://www.officialdata.org/CAD-inflation-rate-in-2018.

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


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 2017 to 2018
Average inflation rate2.27%
Converted amount
$1 base
$1.02
Price difference
$1 base
$0.02
CPI in 2017130.425
CPI in 2018133.383
Inflation in 20171.60%
Inflation in 20182.27%
$1 in 2017$1.02 in 2018