# Canadian inflation rate in 1984: 4.30%

\$

## Inflation in 1984 and its effect on dollar value

\$1 in 1983 is equivalent in purchasing power to about \$1.04 in 1984. The dollar had an average inflation rate of 4.30% per year between 1983 and 1984, producing a cumulative price increase of 4.30%. Purchasing power decreased by 4.30% in 1984 compared to 1983. On average, you would have to spend 4.30% more money in 1984 than in 1983 for the same item.

This means that prices in 1984 are 1.04 times higher than average prices since 1983, according to Statistics Canada consumer price index.

The inflation rate in 1983 was 5.86%. The inflation rate in 1984 was 4.30%. The 1984 inflation rate is higher compared to the average inflation rate of 2.45% per year between 1984 and 2022.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1984 was 60.58. It was 58.08 in the previous year, 1983. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.

 Average inflation rate 4.30% Converted amount (\$1 base) \$1.04 Price difference (\$1 base) \$0.04 CPI in 1983 58.075 CPI in 1984 60.575 Inflation in 1983 5.86% Inflation in 1984 4.30% \$1 in 1983 \$1.04 in 1984

## How to calculate inflation rate for \$1, 1983 to 1984

Our calculations use the following inflation rate formula to calculate the change in value between 1983 and 1984:

CPI in 1984 CPI in 1983
×
=

Then plug in historical CPI values. The Canadian CPI was 58.075 in the year 1983 and 60.575 in 1984:

60.57558.075
×
\$1
=
\$1.04

\$1 in 1983 has the same "purchasing power" or "buying power" as \$1.04 in 1984.

To get the total inflation rate for the 1 years between 1983 and 1984, we use the following formula:

CPI in 1984 - CPI in 1983CPI in 1983
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

60.575 - 58.07558.075
×
100
=
4%

## 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 1984 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 17 Aug. 2022, https://www.officialdata.org/CAD-inflation-rate-in-1984.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.

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