# \$1 in 1994 is worth \$0.98 in 1994

\$

## Value of \$1 from 1995 to 1994

According to Statistics Canada consumer price index, prices in 1994 are 1.71% lower than average prices since 1995. The Canadian dollar experienced an average inflation rate of 1.74% per year during this period, causing the real value of a dollar to decrease.

In other words, \$1 in 1995 is equivalent in purchasing power to about \$0.98 in 1994.

The 1994 inflation rate was 0.23%. The inflation rate in 1995 was 1.74%. The 1995 inflation rate is lower compared to the average inflation rate of 1.78% per year between 1995 and 2020.

 Average inflation rate 1.74% Converted amount (\$1 base) \$0.98 Price difference (\$1 base) \$-0.02 CPI in 1995 87.800 CPI in 1994 86.300 Inflation in 1994 0.23% Inflation in 1995 1.74%

## How to Calculate Inflation Rate for \$1, 1994 to 1995

Our calculations use the following inflation rate formula to calculate the change in value between 1994 and 1995:

CPI in 1994 CPI in 1995
×
=

Then plug in historical CPI values. The Canadian CPI was 87.8 in the year 1995 and 86.3 in 1994:

86.387.8
×
\$1
=
\$0.98

\$1 in 1995 has the same "purchasing power" or "buying power" as \$0.98 in 1994.

To get the total inflation rate for the 1 years between 1994 and 1995, we use the following formula:

CPI in 1994 - CPI in 1995CPI in 1995
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

86.3 - 87.887.8
×
100
=
-2%

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

• Bosnian Serbs massacre over 7,000 Bosnian Muslims in Srebrenica.
• Scientists discover the Hale-Bopp Comet; which later became visible to the naked eye.
• Signing of the Dayton Agreement in Paris in order to end conflicts between former Yugoslavian republics
• 170 countries agree to the unconditional and indefinite extending of the Nuclear Non-proliferation Treaty.
• Austria, Finland and Sweden accede to the European Union.

## 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: “\$1 in 1995 → 1994 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 26 May. 2020, https://www.officialdata.org/1995-CAD-in-1994?amount=1.