$100 in 1988 is worth $190.04 today

Why a dollar today is worth only 53% of a dollar in 1988

Updated: September 14, 2021

$100 in 1988 is equivalent in purchasing power to about $190.04 today, an increase of $90.04 over 33 years. The dollar had an average inflation rate of 1.96% per year between 1988 and today, producing a cumulative price increase of 90.04%.

This means that today's prices are 1.90 times higher than average prices since 1988, according to Statistics Canada consumer price index. A dollar today only buys 52.62% of what it could buy back then.

The 1988 inflation rate was 3.88%. The current year-over-year inflation rate (2020 to 2021) is now 0.73%1. If this number holds, $100 today will be equivalent in buying power to $100.73 next year.


Inflation from 1988 to 2021
Cumulative price change 90.04%
Average inflation rate 1.96%
Converted amount ($100 base) $190.04
Price difference ($100 base) $90.04
CPI in 1988 72.300
CPI in 2021 137.400
Inflation in 1988 3.88%
Inflation in 2021 0.73%
$100 in 1988 $190.04 in 2021

CAD Inflation since 1914
Annual Rate, Statistics Canada CPI
Download

Buying power of $100 in 1988

This chart shows a calculation of buying power equivalence for $100 in 1988 (price index tracking began in 1914).

For example, if you started with $100, you would need to end with $190.04 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $100 is equivalent to $190.04 over time, that means that the "real value" of a single Canadian dollar decreases over time. In other words, a dollar will pay for fewer items at the store.

This effect explains how inflation erodes the value of a dollar over time. By calculating the value in 1988 dollars, the chart below shows how $100 is worth less over 33 years.

According to Statistics Canada, each of these CAD amounts below is equal in terms of what it could buy at the time:

Dollar inflation: 1988-2021
Year Dollar Value Inflation Rate
1988 $100.00 3.88%
1989 $105.26 5.26%
1990 $110.51 4.99%
1991 $114.66 3.75%
1992 $117.15 2.17%
1993 $119.09 1.65%
1994 $119.36 0.23%
1995 $121.44 1.74%
1996 $124.07 2.16%
1997 $125.03 0.78%
1998 $126.28 1.00%
1999 $129.60 2.63%
2000 $133.75 3.20%
2001 $134.72 0.72%
2002 $139.83 3.80%
2003 $142.74 2.08%
2004 $145.78 2.13%
2005 $148.82 2.09%
2006 $151.31 1.67%
2007 $154.91 2.38%
2008 $156.71 1.16%
2009 $158.78 1.32%
2010 $162.52 2.35%
2011 $166.25 2.30%
2012 $167.63 0.83%
2013 $169.71 1.24%
2014 $172.20 1.47%
2015 $174.97 1.61%
2016 $177.59 1.50%
2017 $180.36 1.56%
2018 $180.91 0.31%
2019 $184.51 1.99%
2020 $188.66 2.25%
2021 $190.04 0.73%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 27 more rows

This conversion table shows various other 1988 amounts in today's dollars, based on the 90.04% change in prices:

Conversion: 1988 dollars today
Initial value Equivalent value
$1 dollar in 1988 $1.90 dollars today
$5 dollars in 1988 $9.50 dollars today
$10 dollars in 1988 $19.00 dollars today
$50 dollars in 1988 $95.02 dollars today
$100 dollars in 1988 $190.04 dollars today
$500 dollars in 1988 $950.21 dollars today
$1,000 dollars in 1988 $1,900.41 dollars today
$5,000 dollars in 1988 $9,502.07 dollars today
$10,000 dollars in 1988 $19,004.15 dollars today
$50,000 dollars in 1988 $95,020.75 dollars today
$100,000 dollars in 1988 $190,041.49 dollars today
$500,000 dollars in 1988 $950,207.47 dollars today
$1,000,000 dollars in 1988 $1,900,414.94 dollars today

How to Calculate Inflation Rate for $100 since 1988

Our calculations use the following inflation rate formula to calculate the change in value between 1988 and today:

CPI today CPI in 1988
×
1988 CAD value
=
Today's value

Then plug in historical CPI values. The Canadian CPI was 72.3 in the year 1988 and 137.4 in 2021:

137.472.3
×
$100
=
$190.04

$100 in 1988 has the same "purchasing power" or "buying power" as $190.04 in 2021.

To get the total inflation rate for the 33 years between 1988 and 2021, we use the following formula:

CPI in 2021 - CPI in 1988CPI in 1988
×
100
=
Cumulative inflation rate (33 years)

Plugging in the values to this equation, we get:

137.4 - 72.372.3
×
100
=
90%

News headlines from 1988

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

  • The USSR withdraws its troops from Afghanistan.
  • Iran and Iraq announce a ceasefire after 8 years of war.
  • Approximately 50,000 Kurdish civilians and soldiers are killed by Iraq.
  • Mikhail Gorbachev Chairman becomes president of the USSR.
  • Benazir Bhutto becomes the first female leader of a Muslim country in Pakistan.

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: “Value of 1988 dollars today | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 14 Sep. 2021, https://www.officialdata.org/canada/inflation/1988.

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.


Ian Webster

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.

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Inflation from 1988 to 2021
Cumulative price change 90.04%
Average inflation rate 1.96%
Converted amount ($100 base) $190.04
Price difference ($100 base) $90.04
CPI in 1988 72.300
CPI in 2021 137.400
Inflation in 1988 3.88%
Inflation in 2021 0.73%
$100 in 1988 $190.04 in 2021