# Canadian inflation rate in 1993: 1.65%

\$

## Inflation in 1993 and its effect on dollar value

Purchasing power decreased by 1.65% in 1993 compared to 1992. On average, you would have to spend 1.65% more money in 1993 than in 1992 for the same item.

In other words, \$1 in 1992 is equivalent in purchasing power to about \$1.02 in 1993.

The 1992 inflation rate was 2.17%. The inflation rate in 1993 was 1.65%. The 1993 inflation rate is lower compared to the average inflation rate of 1.72% per year between 1993 and 2020.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1993 was 86.10. It was 84.70 in the previous year, 1992. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.

 Average inflation rate 1.65% Converted amount (\$1 base) \$1.02 Price difference (\$1 base) \$0.02 CPI in 1992 84.700 CPI in 1993 86.100 Inflation in 1992 2.17% Inflation in 1993 1.65%

CAD Inflation since 1914
Annual Rate, Statistics Canada CPI

## How to Calculate Inflation Rate for \$1, 1992 to 1993

Our calculations use the following inflation rate formula to calculate the change in value between 1992 and 1993:

CPI in 1993 CPI in 1992
×
=

Then plug in historical CPI values. The Canadian CPI was 84.7 in the year 1992 and 86.1 in 1993:

86.184.7
×
\$1
=
\$1.02

\$1 in 1992 has the same "purchasing power" or "buying power" as \$1.02 in 1993.

To get the total inflation rate for the 1 years between 1992 and 1993, we use the following formula:

CPI in 1993 - CPI in 1992CPI in 1992
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

86.1 - 84.784.7
×
100
=
2%

## News headlines from 1992

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

• The Conservative party wins the 1992 British general election, returning John Major to his role as Prime Minister.
• Nelson Mandela's meets with UN Secretary-General Boutros Boutros-Ghali at Dakar.
• Bill Clinton is elected President of the United States.

## 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 1993 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 31 May. 2020, https://www.officialdata.org/CAD-inflation-rate-in-1993.

Special thanks to QuickChart for providing downloadable chart images.

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

#### About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

 Average inflation rate 1.65% Converted amount (\$1 base) \$1.02 Price difference (\$1 base) \$0.02 CPI in 1992 84.700 CPI in 1993 86.100 Inflation in 1992 2.17% Inflation in 1993 1.65%