Canadian inflation rate in 1998: 1.00%

Canada Inflation Calculator


Canadian Inflation Rate, 1998-2018 (CA$1)

The consumer price index (CPI) in 1998 was 91.3. 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 1.82% per year. Prices in 2018 are 43.4% higher than prices in 1998.

In other words, CA$1 in the year 1998 is equivalent in purchasing power to CA$1.43 in 2018, a difference of CA$0.43 over 20 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 1998 to 2018
Cumulative price change 43.37%
Average inflation rate 1.82%
Price difference (CA$1 base) CA$0.43
CPI in 1998 91.3
CPI in 2018 130.9

CAD inflation chart from 1914 to 2017

How to calculate the inflation rate for CA$1 since 1998

Start with the inflation rate formula:

CPI in 2018 / CPI in 1998 * 1998 CAD value = 2018 CAD value

Then plug in historical CPI values. The Canadian CPI was 91.3 in the year 1998 and 130.9 in 2018:

130.9 / 91.3 * CA$1 = CA$1.43

CA$1 in 1998 has the same "purchasing power" as CA$1.43 in 2018.

News headlines from 1998

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

  • Osama Bin Laden declares a Jihad against Jews and Crusaders.
  • The Good Friday Agreement is accepted in a referendum in Northern Ireland.
  • President of the US Bill Clinton admits that he had an "improper physical relationship" with an intern and then denied it in the same day. The event has come to be known as the Monica Lewinsky scandal.

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 1998 | Canada Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 19 Apr. 2018,

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