Is your pay keeping pace with inflation, or are you falling behind? If the value of your wages doesn’t increase faster than the cost of living, the purchasing power of your pay, known as “real wages,” hasn’t grown.
This tool lets you calculate the value of your real wage or salary, after adjusting for changes in consumer prices.
These calculations use Statistics Canada's Consumer Price Index (CPI) as a measure of changes in the cost of living. Detailed monthly CPI data (and much else) are provided by Statistics Canada for free and are available through their website. Source: Statistics Canada, Consumer Price Index, Cansim Table 326-0021.
Please note this tool only deals with the dollar value of your wages. It doesn't factor in the changing value of workplace benefits. It does not account for changing tax rates or factor in the value of public services, which contribute significantly to the well-being and standard of living for households.