In November, consumer prices rose 0.1% over the previous month, following on the 0.4% price increase in October. The reading came in below market expectations, which had seen consumer prices adding 0.3% in November. As a result of the subdued price increase, annual headline inflation dropped to 2.0% in November from a two-year high of 2.4% in October. The main drivers behind the moderation in annual inflation were lower prices for clothing and footwear (-3.2% year-on-year), offset by higher energy prices (+6.7% yoy) and transport prices (+4.6% yoy). Annual core inflation, which excludes oil and fresh food prices, declined to 1.4% in November (October: 1.8%), falling further below the 2.0% target set by the Bank of Canada (BoC). Thus, the Central Bank remains unlikely to raise interest rates at its next monetary policy meeting scheduled for 18 January 2011. The Bank of Canada forecasts inflation to average 2.1% in the fourth quarter of 2010 and to moderate to 1.9% in the fourth quarter of 2011.
Inflation eases in November
December 21, 2010
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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.