Canadian inflation rate in 1994: 0.23%

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Canadian Inflation Rate, 1994-2017 (CA$1)

The consumer price index (CPI) in 1994 was 86.3. Statistics Canada uses this CPI value to track inflation on a monthly basis.

According to Statistics Canada, the dollar experienced an average inflation rate of 1.81% per year. Prices in 2017 are 51.1% higher than prices in 1994.

In other words, CA$1 in the year 1994 is equivalent to CA$1.51 in 2017, a difference of CA$0.51 over 23 years.

The current inflation rate in 2017 is 1.56%1. If this number holds, CA$1 today will be equivalent to CA$1.02 next year.

Inflation from 1994 to 2017
Cumulative price change 51.10%
Average inflation rate 1.81%
Price difference (CA$1 base) CA$0.51
CPI in 1994 86.3
CPI in 2017 130.4


CAD inflation chart from 1914 to 2017


How to calculate the inflation rate for CA$1 since 1994

Start with the inflation rate formula:

CPI in 2017 / CPI in 1994 * 1994 CAD value = 2017 CAD value

Then plug in historical CPI values. The Canadian CPI was 86.3 in the year 1994 and 130.4 in 2017:

130.4 / 86.3 * CA$1 = CA$1.51

CA$1 in 1994 has the same "purchasing power" as CA$1.51 in 2017.


News headlines from 1994

Politics and news often play an important role in economic performance.

  • The Rwandan Genocide begins as an aircraft is shot down while carrying Rwandan and Butundian presidents, Juvenal Habyarimana and Cyprien Ntaryamira
  • Nelson Mandela becomes South Africa's first black president.
  • The IRA declares a ceasefire.
  • Guantanamo Naval Base is re-opened for refugee processing.

Inflation Data Source: The government of Canada's annual Consumer Price Index (CPI), established in 1914 and computed by Statistics Canada (StatCan).


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