# Canadian inflation rate in 1993: 1.87%

\$

## Inflation in 1993 and its effect on dollar value

\$1 in 1992 is equivalent in purchasing power to about \$1.02 in 1993. The dollar had an average inflation rate of 1.87% per year between 1992 and 1993, producing a cumulative price increase of 1.87%. Purchasing power decreased by 1.87% in 1993 compared to 1992. On average, you would have to spend 1.87% more money in 1993 than in 1992 for the same item.

This means that prices in 1993 are 1.02 times as high as average prices since 1992, according to Statistics Canada consumer price index.

The inflation rate in 1992 was 1.49%. The inflation rate in 1993 was 1.87%. The 1993 inflation rate is lower compared to the average inflation rate of 2.06% per year between 1993 and 2023.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1993 was 85.57. It was 84.00 in the previous year, 1992. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.

 Average inflation rate 1.87% Converted amount\$1 base \$1.02 Price difference\$1 base \$0.02 CPI in 1992 84.000 CPI in 1993 85.567 Inflation in 1992 1.49% Inflation in 1993 1.87% \$1 in 1992 \$1.02 in 1993

## 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 in the year 1992 and 85.56666667 in 1993:

85.5666666784
×
\$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:

85.56666667 - 8484
×
100
=
2%

## 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, 1 Dec. 2023, https://www.officialdata.org/CAD-inflation-rate-in-1993.

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. 