In the 2016-2017 NHL season, the salary cap ceiling was set at $73 million. This included the player’s approval to apply a 5% inflator to the salary cap range. It’s a part of the CBA that was one of the more contentious points during the last CBA negotiations causing the shortening of the 2012-2013 NHL season (and will likely continue to be a big part of the upcoming CBA negotiations for fans to look forward to, so we all have that going for us.)
According to the CBA’s language on the inflator, the salary cap range "shall be adjusted upward by a factor of five (5) percent in each league year (yielding the adjusted midpoint, which shall then become the midpoint of the payroll range) unless or until either party to this agreement proposes a different growth factor based on actual revenue experience and/or projections, in which case the parties shall discuss and agree upon a new factor.