Canadian inflation rate in 1994: 0.23%

Canada Inflation Calculator


Canadian Inflation Rate, 1994-2018 (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 consumer price index, the dollar experienced an average inflation rate of 1.75% per year. Prices in 2018 are 51.7% higher than prices in 1994.

In other words, CA$1 in the year 1994 is equivalent in purchasing power to CA$1.52 in 2018, a difference of CA$0.52 over 24 years.

The current inflation rate in 2018 is 0.38%1. If this number holds, CA$1 today will be equivalent to CA$1.00 next year.

Inflation from 1994 to 2018
Cumulative price change 51.68%
Average inflation rate 1.75%
Price difference (CA$1 base) CA$0.52
CPI in 1994 86.3
CPI in 2018 130.9

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 2018 / CPI in 1994 * 1994 CAD value = 2018 CAD value

Then plug in historical CPI values. The Canadian CPI was 86.3 in the year 1994 and 130.9 in 2018:

130.9 / 86.3 * CA$1 = CA$1.52

CA$1 in 1994 has the same "purchasing power" as CA$1.52 in 2018.

News headlines from 1994

Politics and news often influence economic performance. Here's what was happening at the time:

  • 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

Raw data for these calculations comes from the government of Canada's annual Consumer Price Index (CPI), established in 1914 and computed by Statistics Canada (StatCan).

You may use the following MLA citation for this page: “Inflation Rate in 1994 | Canada Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 24 Jan. 2018,

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