What is the rate of inflation in Canada?

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What is the rate of inflation in Canada?

Rounding it up

  • The rate of inflation in Canada was .72% in 2020

  • The Bank of Canada tries to keep the inflation rate at 2%

  • Gentle inflation is the sign of a thriving economy with full employment and plentiful spending

  • Inflation encourages consumers to buy now since the value of the dollar will inevitably decrease

5 min read

Dan Bucherer
#inflation#inflation rate#economy

Dan Bucherer

Dan is a runner and writer living in the Washington, D.C. area, where he currently works for a financial services trade association as the Communications Director.

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The Consumer Price Index (CPI) is a measure of the cost of a virtual basket of goods expressed as a percentage when compared to the same time in the previous year. The CPI helps the government determine if they are meeting their inflation goals.

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