In July, consumer prices increased a seasonally-adjusted 0.2% over the previous month, which matched the performance recorded in June. According to Statistics Canada, the monthly price increase mainly reflected higher prices for recreation and education, as well as for energy. Annual headline inflation inched up from 1.2% in June to 1.3% in July, which undershot market expectations of a 1.4% rise. Inflation is now at its highest level in more than a year, but remains below the Central Bank's target of 2.0% with a tolerance margin of plus/minus 1.0 percentage points. Meanwhile, annual average inflation remained stable at 1.0% in July. Core inflation, which excludes volatile items such as gasoline and fresh food, rose from 1.3% in June to 1.4% in July. According to its July Monetary Policy Report, the Bank of Canada expects headline inflation to average 1.0% in 2013 and 1.7% in 2014. FocusEconomics Consensus Forecast panellists expect inflation to average 1.4% in 2013, which is unchanged from the previous month's forecast. The panel expects inflation to average 1.9% in 2014.
Inflation inches up in July
August 23, 2013
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Canada Inflation Chart
Note: Year-on-year and month-on-month variation of seasonally adjusted consumer price index in %.
Source: Statistics Canada (SC).
Canada Economic News
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.
September 30, 2016
In July, GDP grew a strong 0.5% over the previous month in seasonally-adjusted terms.
September 23, 2016
In August, seasonally-adjusted consumer prices recorded a 0.1% decrease over the previous month, which was down from the flat figure recorded in July and marked the lowest reading in six months.