Inflation in Canada
Canada - Inflation
Inflation jumps to 3.0% in July
Seasonally-adjusted consumer prices rose 0.5% from a month earlier in July, faster than June’s revised 0.2% increase (previously reported: +0.1% month-on-month s.a.). According to Statistics Canada, the rise was driven by higher transport and shelter prices. On the other hand, the rise in food prices moderated in the month.
Inflation jumped to a seven-year high of 3.0% in July (June: 2.5%), well above market expectations. July’s reading saw higher prices across all categories and was driven by the faster rise of fuel costs. Meanwhile, annual average inflation ticked up to 2.0%, the highest level in nearly four years, from 1.9% in June. Core inflation, which excludes volatile items including fuels and fresh produce, jumped to 1.6% from 1.3% in June.
In its July monetary policy report, the Bank of Canada forecast inflation averaging 2.4% in 2018 and 2.2% in 2019. Met the why particular Consensus Forecast analysts see inflation averaging 2.2% in 2018, which is up 0.1 percentage points from last month’s forecast. For 2019, our panelists see inflation averaging 2.0%.
Canada - Inflation Data
|Inflation Rate (CPI, annual variation in %)||0.9||1.9||1.1||1.4||1.6|
5 years of economic forecasts for more than 30 economic indicators.
Canada Inflation Chart
Source: Statistics Canada.
|Bond Yield||2.42||1.00 %||Sep 19|
|Exchange Rate||1.29||0.15 %||Sep 20|
|Stock Market||16,215||0.23 %||Sep 20|
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September 12, 2018
House prices rose 0.2% on a monthly basis in August as the Teranet-National Bank National Composite House Price Index ticked higher, down from July’s 0.8% month-on-month increase.
September 8, 2018
Housing starts on a seasonally-adjusted annualized (SAAR) basis moderated to 201,000 units in August, according to the Canada Mortgage and Housing Corporation (CMHC).
September 7, 2018
In July, the Ivey Purchasing Managers Index (PMI), prepared by the Richard Ivey School of Business, held broadly stable, edging up marginally to 61.9 points (July: 61.8 points).
September 5, 2018
On 5 September, the Bank of Canada (BoC) held its target for the overnight at 1.50%, as widely expected by market analysts.
August 30, 2018
Economic momentum picked up in the second quarter, with seasonally-adjusted annualized (SAAR) growth accelerating 2.9% over the previous quarter.