Canadian inflation rate in 1998: 1.00%

Canada Inflation Calculator

CA$

Inflation since 1998 and its effect on dollar value

The consumer price index (CPI) in 1998 was 91.3. It was 90.4 in the previous year. This change in CPI is used by Statistics Canada to calculate inflation.

According to Statistics Canada consumer price index, the dollar experienced an average inflation rate of 1.91% per year. Prices in 2018 are 46.00% higher than prices in 1998.

In other words, CA$100 in 1998 is equivalent in purchasing power to CA$146.00 in 2018, a difference of CA$46.00 over 20 years.

The current inflation rate is now 2.22%1. If this number holds, CA$100 today will be equivalent to CA$102.22 next year.

Inflation from 1998 to 2018
Cumulative price change 46.00%
Average inflation rate 1.91%
Converted amount (CA$100 base) CA$146.00
Price difference (CA$100 base) CA$46.00
CPI in 1998 91.3
CPI in 2018 133.3


CAD inflation chart from 1914 to 2017


How to calculate the inflation rate for CA$100 since 1998

This inflation calculator uses the following 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 133.3 in 2018:

133.3 / 91.3 * CA$100 = CA$146.00

CA$100 in 1998 has the same "purchasing power" or "buying power" as CA$146.00 in 2018.


Buying power of CA$100 since 1998

This chart shows calculations of buying power equivalence over time for CA$100 in 1998 (price index tracking began in 1914).

According to Statistics Canada, each of these CAD amounts below is equal in terms of what it could buy at the time:

Year CAD Value Inflation Rate
1998 CA$100.00 1.00%
1999 CA$102.63 2.63%
2000 CA$105.91 3.20%
2001 CA$106.68 0.72%
2002 CA$110.73 3.80%
2003 CA$113.03 2.08%
2004 CA$115.44 2.13%
2005 CA$117.85 2.09%
2006 CA$119.82 1.67%
2007 CA$122.67 2.38%
2008 CA$124.10 1.16%
2009 CA$125.74 1.32%
2010 CA$128.70 2.35%
2011 CA$131.65 2.30%
2012 CA$132.75 0.83%
2013 CA$134.39 1.24%
2014 CA$136.36 1.47%
2015 CA$138.55 1.61%
2016 CA$140.64 1.50%
2017 CA$142.83 1.56%
2018 CA$146.00 2.22%*
* Not final. See inflation summary for latest details.

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.

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, 17 Jul. 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.