Inflation in Canada

Canada Inflation | Economic News & Forecasts

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

2013  2014  2015  2016  2017  
Inflation Rate (CPI, annual variation in %)0.9  1.9  1.1  1.4  1.6  

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Canada Inflation Chart


Canada Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Statistics Canada.

Canada Facts

ValueChangeDate
Bond Yield2.421.00 %Sep 19
Exchange Rate1.290.15 %Sep 20
Stock Market16,2150.23 %Sep 20

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