# Canadian inflation rate in 1999: 2.63%

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### Inflation in 1999 and Its Effect on Dollar Value

Purchasing power decreased by 2.63% in 1999 compared to 1998. On average, you would have to spend 2.63% more money in 1999 than in 1998 for the same item.

In other words, \$1 in 1998 is equivalent in purchasing power to about \$1.03 in 1999.

The 1998 inflation rate was 1.00%. The inflation rate in 1999 was 2.63%. The 1999 inflation rate is higher compared to the average inflation rate of 1.80% per year between 1999 and 2020.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1999 was 93.70. It was 91.30 in the previous year, 1998. The difference in CPI between the years is used by Statistics Canada to officially determine inflation.

 Average inflation rate 2.63% Converted amount (\$1 base) \$1.03 Price difference (\$1 base) \$0.03 CPI in 1998 91.300 CPI in 1999 93.700 Inflation in 1998 1.00% Inflation in 1999 2.63%

### How to Calculate Inflation Rate for \$1, 1998 to 1999

This inflation calculator uses the following inflation rate formula:

CPI in 1999CPI in 1998
×
=

Then plug in historical CPI values. The Canadian CPI was 91.3 in the year 1998 and 93.7 in 1999:

93.791.3
×
\$1
=
\$1.03

\$1 in 1998 has the same "purchasing power" or "buying power" as \$1.03 in 1999.

To get the total inflation rate for the 1 years between 1998 and 1999, we use the following formula:

CPI in 1999 - CPI in 1998CPI in 1998
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

93.7 - 91.391.3
×
100
=
3%

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

• The Good Friday Agreement is accepted in a referendum in Northern Ireland.
• President of the US Bill Clinton admits that he had an "improper physical relationship" with an intern and then denied it in the same day. The event has come to be known as the Monica Lewinsky scandal.

### 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 1999 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 5 Apr. 2020, https://www.officialdata.org/CAD-inflation-rate-in-1999.