In May, consumer prices increased a seasonally adjusted 0.2% over the previous month, a notch below both the monthly price increase in April and market expectations of 0.3%. As a result, annual headline inflation stepped up from April's 3.3% to 3.7% in May, coming in above market expectations of a 3.3% rate and overshooting the upper band of the 2.0%1% inflation target for a third consecutive month. Energy prices continued to be the main driver of headline inflation, increasing 16.6% in May (April: +17.1% year-on-year) mainly as a result of higher gasoline prices. Inflation excluding energy costs would have been 2.4% in May, which is nevertheless up from 2.0% registered in May as prices for food accelerated in May on both an annual and monthly basis. Annual core inflation, which excludes oil and fresh food prices, stepped up from 1.6% in April to 1.8% in May. That said, all other things being equal, inflation is likely to ease somewhat in the coming months as a result of a slowdown in gasoline price rises in June as well as the base effect associated with the implementation of the harmonized sales tax in July last year. The Bank of Canada expects headline inflation to average 2.5% in 2011 and 2.1% in 2012.
Inflation jumps to eight-year high
June 29, 2011
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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.