# Canadian inflation rate in 1992: 2.17%

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### Inflation in 1992 and Its Effect on Dollar Value

Purchasing power decreased by 2.17% in 1992 compared to 1991. On average, you would have to spend 2.17% more money in 1992 than in 1991 for the same item.

In other words, \$1 in 1991 is equivalent in purchasing power to about \$1.02 in 1992.

The 1991 inflation rate was 3.75%. The inflation rate in 1992 was 2.17%. The 1992 inflation rate is higher compared to the average inflation rate of 1.72% per year between 1992 and 2020.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1992 was 84.70. It was 82.90 in the previous year, 1991. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.

 Average inflation rate 2.17% Converted amount (\$1 base) \$1.02 Price difference (\$1 base) \$0.02 CPI in 1991 82.900 CPI in 1992 84.700 Inflation in 1991 3.75% Inflation in 1992 2.17%

### How to Calculate Inflation Rate for \$1, 1991 to 1992

This inflation calculator uses the following inflation rate formula:

CPI in 1992CPI in 1991
×
=

Then plug in historical CPI values. The Canadian CPI was 82.9 in the year 1991 and 84.7 in 1992:

84.782.9
×
\$1
=
\$1.02

\$1 in 1991 has the same "purchasing power" or "buying power" as \$1.02 in 1992.

To get the total inflation rate for the 1 years between 1991 and 1992, we use the following formula:

CPI in 1992 - CPI in 1991CPI in 1991
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

84.7 - 82.982.9
×
100
=
2%

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

• The IRA launch a bomb attack on Downing Street, during a cabinet meeting.
• America liberates Kuwait signalling the end of the first Gulf War.
• Tim Berners-Lee releases files that describe the idea of the World Wide Web.
• Pablo Escobar, a Colombian drug lord, surrenders to the police.
• Boris Yeltsin becomes the first elected president of Russia.

### 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 1992 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 9 Apr. 2020, https://www.officialdata.org/CAD-inflation-rate-in-1992.