According to Statistics Canada consumer price index, today's prices in 2020 are 58.42% higher than average prices since 1993. This means that a dollar today only buys 63.12% of what it could buy in 1993. The Canadian dollar experienced an average inflation rate of 1.72% per year during this period, causing the real value of a dollar to decrease.

In other words, $100 in 1993 is equivalent in purchasing power to about $158.42 in 2020, a difference of $58.42 over 27 years.

The 1993 inflation rate was 1.65%. The current year-over-year inflation rate (2019 to 2020) is now 2.25%^{1}.
If this number holds, $100 today will be equivalent in buying power to $102.25 next year.

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Cumulative price change | 58.42% |

Average inflation rate | 1.72% |

Converted amount ($100 base) | $158.42 |

Price difference ($100 base) | $58.42 |

CPI in 1993 | 86.100 |

CPI in 2020 | 136.400 |

Inflation in 1993 | 1.65% |

Inflation in 2020 | 2.25% |

This chart shows a calculation of buying power equivalence for $100 in 1993 (price index tracking began in 1914).

For example, if you started with $100, you would need to end with $158.42 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $100 is equivalent to $158.42 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 1993 dollars, the chart below shows how $100 is worth less over 27 years.

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

This conversion table shows various other 1993 amounts in today's dollars, based on the 58.42% change in prices:

Initial value | Equivalent value |
---|---|

$1 dollar in 1993 | $1.58 dollars today |

$5 dollars in 1993 | $7.92 dollars today |

$10 dollars in 1993 | $15.84 dollars today |

$50 dollars in 1993 | $79.21 dollars today |

$100 dollars in 1993 | $158.42 dollars today |

$500 dollars in 1993 | $792.10 dollars today |

$1,000 dollars in 1993 | $1,584.20 dollars today |

$5,000 dollars in 1993 | $7,921.02 dollars today |

$10,000 dollars in 1993 | $15,842.04 dollars today |

$50,000 dollars in 1993 | $79,210.22 dollars today |

$100,000 dollars in 1993 | $158,420.44 dollars today |

$500,000 dollars in 1993 | $792,102.21 dollars today |

$1,000,000 dollars in 1993 | $1,584,204.41 dollars today |

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

CPI today
CPI in 1993

×

1993 CAD value

=

Today's value

Then plug in historical CPI values. The Canadian CPI was 86.1 in the year 1993 and 136.4 in 2020:

136.486.1

×

$100

=

$100 in 1993 has the same "purchasing power" or "buying power" as $158.42 in 2020.

To get the total inflation rate for the 27 years between 1993 and 2020, we use the following formula:

CPI in 2020 - CPI in 1993CPI in 1993

×

100

=

Plugging in the values to this equation, we get:

136.4 - 86.186.1

×

100

=

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

- Letters of mutual recognition are exchanged between Israel and the Palestine Liberation Organization.
- The Nobel Peace Prize is awarded to Nelson Mandela and South African President de Klerk.
- A new democratic constitution is approved by black and white leaders in South Africa.

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 1993 dollars today | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 25 Nov. 2020, https://www.officialdata.org/canada/inflation/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.

Cumulative price change | 58.42% |

Average inflation rate | 1.72% |

Converted amount ($100 base) | $158.42 |

Price difference ($100 base) | $58.42 |

CPI in 1993 | 86.100 |

CPI in 2020 | 136.400 |

Inflation in 1993 | 1.65% |

Inflation in 2020 | 2.25% |