Canada Inflation August 2021


Canada: Inflation comes in at highest level since March 2003 in August

September 16, 2021

Consumer prices rose a seasonally-adjusted 0.42% over the previous month in August, coming in below July's 0.57% increase. The moderation was primarily driven by a slower rise in prices for housing. In addition, prices for recreation and culture dropped.

Inflation increased to 4.1% in August from July’s 3.7%. August's figure marked the highest inflation rate since March 2003. Meanwhile, the trend pointed up, with annual average inflation coming in at 2.1% in August (July: 1.8%). Lastly, core inflation ticked up to 3.5% in August, from the previous month's 3.3%.

FocusEconomics Consensus Forecast analysts, see inflation averaging 2.2% in 2021, which is up 0.2 percentage points from the previous month’s forecast. For 2022, our panelists see inflation averaging 2.0%.


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Canada Inflation Chart

Canada Inflation August 2021

Note: Year-on-year and month-on-month variation of seasonally-adjusted consumer price index in %.
Source: Statistics Canada (SC).

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