Canadian inflation rate in 1998: 1.00%

Canada Inflation Calculator

CA$

Inflation in 1998 and Its Effect on Dollar Value

Purchasing power decreased by 1.00% in 1998 compared to the previous year, 1997. On average, you would have to spend 1.00% more money in 1998 than in 1997 for the same item.

In other words, CA$100 in 1997 is equivalent in purchasing power to CA$101.00 in 1998.

The 1997 inflation rate was 0.78%. The inflation rate in 1998 was 1.00%. The 1998 inflation rate is lower compared to the average inflation rate of 1.91% per year between 1998 and 2018.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1998 was 91.3. It was 90.4 in the previous year, 1997. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.


Inflation from 1997 to 1998
Average inflation rate 1.00%
Converted amount (CA$100 base) CA$101.00
Price difference (CA$100 base) CA$1.00
CPI in 1997 90.4
CPI in 1998 91.3
Inflation in 1997 0.78%
Inflation in 1998 1.00%


CAD inflation chart from 1914 to 2017


How to Calculate Inflation Rate for CA$100, 1997 to 1998

This inflation calculator uses the following inflation rate formula:

CPI in 1998CPI in 1997
×
1997 CAD value
=
1998 CAD value

Then plug in historical CPI values. The Canadian CPI was 90.4 in the year 1997 and 91.3 in 1998:

91.390.4
×
CA$100
=
CA$101.00

CA$100 in 1997 has the same "purchasing power" or "buying power" as CA$101.00 in 1998.

To get the total inflation rate for the 1 years between 1997 and 1998, we use the following formula:

CPI in 1998 - CPI in 1997CPI in 1997
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

91.3 - 90.490.4
×
100
=
1%

News headlines from 1997

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

  • Production, stockpiling and use of chemical weapons is outlawed as the Chemical Weapons Convention of 1993 comes into force.
  • The British lease of the New Territories in Hong Kong expires.
  • Diana, Princess of Wales, dies in a car crash in Paris,.
  • Hong Kong begins slaughtering chickens to prevent bird flu,.

Data Source & Citation

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.” U.S. Official Inflation Data, Alioth Finance, 24 Sep. 2018, https://www.officialdata.org/CAD-inflation-rate-in-1998.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


» Read more about inflation.