Rate of inflation
Is there a way for me to find out what the rate of inflation in Canada was over the past 1, 3, 5, 10 and 20 years?
Nov 14th, 2017 4:22 pm
Nov 14th, 2017 4:59 pm
Nov 14th, 2017 5:18 pm
Nov 14th, 2017 10:55 pm
Thank you for this link from a reliable source.burnt69 wrote: ↑Nov 14th, 2017 4:59 pmhttp://www.statcan.gc.ca/tables-tableau ... 6a-eng.htm
https://www.bankofcanada.ca/rates/relat ... alculator/
Nov 15th, 2017 1:31 am
It is correct according to CPI. There is no reason for inflation to average 3%. Bank of Canada's goal is 2% (1-3% range). Long term lots of countries have much higher rates. Japan probably has below 1% over the 1987-2017 period.
Nov 15th, 2017 8:33 am
Generally it is fairly accurate. Some things inflate more, some things less. I think inflation control started to come more into fashion after 1982 or so and has steadily dropped. The past 10 years is a little over 1.5%. --- If you looked at 1972 to 1982 it was closer to 10%.
Nov 15th, 2017 10:23 am
Nov 15th, 2017 10:52 am
If people claim that CPI underestimates inflation, is there a third party website that anyone knows off that also runs the numbers as a check on the governement?fogetmylogin wrote: ↑Nov 15th, 2017 1:31 amIt is correct according to CPI. There is no reason for inflation to average 3%. Bank of Canada's goal is 2% (1-3% range). Long term lots of countries have much higher rates. Japan probably has below 1% over the 1987-2017 period.
A lot of people claim the CPI underestimates inflation. Either accidentally or by design. Keep in mind the technology effect makes it seem like your spending rate is increasing faster than inflation. For example in 1980 the typical family might spend $300 for a TV. Now we might spend $2000 but that 1980 TV is for sale for $50 at Walmart so inflation wise the cost of a TV has actually dropped. The family budget needs (or wants really) to spend more on a TV.
Nov 15th, 2017 12:36 pm
If people claim Statistics Canada's numbers are false, I don't know what we can do for them. But if the concern is that certain items are missing from the CPI like housing, then you can look at the Survey of Household Spending instead:
Nov 15th, 2017 1:13 pm