Canadian inflation rate in 2018: 2.22%

Canada Inflation Calculator

CA$

Inflation in 2018 and Its Effect on Dollar Value

Purchasing power decreased by 2.22% in 2018 compared to the previous year, 2017. On average, you would have to spend 2.22% more money in 2018 than in 2017 for the same item.

In other words, CA$1 in 2017 is equivalent in purchasing power to CA$1.02 in 2018.

The 2017 inflation rate was 1.56%. The current inflation rate (2017 to 2018) is now 2.22%1. If this number holds, CA$1 today will be equivalent to CA$1.02 next year.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 2018 is 133.3. It was 130.4 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 rate 2.22%
Converted amount (CA$1 base) CA$1.02
Price difference (CA$1 base) CA$0.02
CPI in 2017 130.400
CPI in 2018 133.300
Inflation in 2017 1.56%
Inflation in 2018 2.22%


CAD inflation chart from 1914 to 2017


How to Calculate Inflation Rate for CA$1 since 2017

This inflation calculator uses the following inflation rate formula:

CPI in 2018CPI in 2017
×
2017 CAD value
=
2018 CAD value

Then plug in historical CPI values. The Canadian CPI was 130.4 in the year 2017 and 133.3 in 2018:

133.3130.4
×
CA$1
=
CA$1.02

CA$1 in 2017 has the same "purchasing power" or "buying power" as CA$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:

133.3 - 130.4130.4
×
100
=
2%

News headlines from 2017

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

  • Donald Trump sworn in as the 45th president of the United States.
  • Hurricanes Harvey and Irma strike southeast Texas and Florida, causing extensive flooding and damage.
  • Gunman kills 58 people at a Las Vegas concert, making it the deadliest mass shooting in modern U.S. history.
  • North Korea tests a hydrogen bomb and over a dozen ballistic missiles amidst soaring tensions with the U.S.

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.” U.S. Official Inflation Data, Alioth Finance, 18 Dec. 2018, https://www.officialdata.org/CAD-inflation-rate-in-2018.


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