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.
|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|
Politics and news often influence economic performance. Here's what was happening at the time:
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, http://www.in2013dollars.com/CAD-inflation-rate-in-1998.