In January, consumer prices added 0.3% over the previous month, following a flat result in December. The reading was exactly in line with market analyst expectations. Annual headline inflation inched down from 2.4% in December to 2.3% in January. Higher energy prices (+9.0% year-on-year) continued to be the major inflation driver, but rose at a slower pace than in December (+10.5% yoy). Furthermore, on the back of soaring global food prices, cost of food in Canada increased by 2.1% in January (December: +1.7% yoy). However, lower prices for clothing and footwear (-2.4% yoy) partially offset the upward pressure on inflation. Annual core inflation, which excludes oil and fresh food prices, inched down to 1.4% in January (December: 1.5%) and remains below the 2.0% target set by the Bank of Canada. The Bank of Canada forecasts headline inflation to average 2.1% in 2011 and 1.9% in 2012
Inflation dips in January
February 18, 2011
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Canada Economic News
October 21, 2016
In September, seasonally-adjusted consumer prices increased 0.2% from the previous month, which contrasted the 0.1% decrease recorded in August and marked the highest print in three months.
October 19, 2016
At its 19 October policy meeting, the Bank of Canada (BoC) decided to maintain its target for the overnight rate at 0.50%, despite a weaker inflation and growth outlook.
October 11, 2016
The Teranet-National Bank National Composite House Price index rose 0.7% in September from the previous month, which followed the 1.5% increase in August.
October 8, 2016
Seasonally-adjusted annualized housing starts registered 220,600 units in September, according to the government-owned Canada Mortgage and Housing Corporation (CMHC).
October 7, 2016
The Ivey Purchasing Managers’ Index (PMI), sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, increased a seasonally-adjusted 6.1 points in September, rising from 52.3 in August to 58.4.