Inflation in Canada
Canada - Inflation
Inflation stable in May
Seasonally-adjusted consumer prices rose 0.1% from a month earlier in May, matching April’s 0.1% increase. According to Statistics Canada, the increase was driven by higher shelter and transport prices, as well as sharply higher prices for recreation, education and reading. Food prices, meanwhile, eased marginally in the month.
Inflation was stable at April’s 2.2% in May, a notch below market expectations. May’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 1.8%, the highest level in three years, from 1.7%. Core inflation, which excludes volatile items including fuels and fresh produce, ticked down to 1.3% (April: 1.5%).
Canada Inflation Forecast
In its April monetary policy report, the Bank of Canada forecast inflation averaging 2.3% in 2018 and 2.1% 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||2.16||1.00 %||Jul 12|
|Exchange Rate||1.32||0.15 %||Jul 13|
|Stock Market||16,561||0.23 %||Jul 13|
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June 22, 2018
Seasonally-adjusted consumer prices rose 0.1% from a month earlier in May, matching April’s 0.1% increase.
June 13, 2018
House prices rose 1.0% on a monthly basis in May as the Teranet-National Bank National Composite House Price Index ticked higher, accelerating from April’s 0.2% month-on-month increase.
June 8, 2018
Housing starts on a seasonally-adjusted annualized (SAAR) basis plummeted to 195,600 units in May, according to the Canada Mortgage and Housing Corporation (CMHC).
June 6, 2018
In May, the Ivey Purchasing Managers Index (PMI), prepared by the Richard Ivey School of Business, dipped 9.0 points from April’s multi-year high to land at 62.5 points.
May 30, 2018
On 30 May, the Bank of Canada (BoC) left its target for the overnight rate unchanged at 1.25%, as broadly expected by market analysts.