Inflation rate September 2009The average rate of increase in prices. When economists speak of inflation as an economic problem, they generally mean a persistent increase in the general price level over a period of time, resulting in a decline in a currency’s purchasing power. Inflation is often measured as a percentage increase in the consumer price index (CPI). Canada’s inflation policy, as set out by the federal government and the Bank of Canada, aims to keep inflation within a target range of 1 to 3 per cent. If the rate of inflation is 1 per cent a year, $100 worth of purchases last year will, on average, cost $101 this year. At the same inflation rate, those purchases will cost $102.01 next year, and so on.
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Posted by Constantine Isslamow
on November 4, 2009
Tags:
Inflation Rate
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