Canada Inflation September 2017

Canada

Canada: Inflation edges up on higher prices at the fuel pump in September

October 20, 2017

Seasonally-adjusted consumer prices rose 0.2% in September, in line with August’s 0.2% print. According to Statistics Canada, September’s rise was largely due to significantly higher transport prices—primarily driven by an increase in gasoline prices—along with marginal growth in food and shelter prices.

Inflation was 1.6% in September, up from 1.4% in August and within the Bank of Canada’s target range of 2.0% plus/minus 1.0 percentage point. Meanwhile, annual average inflation was stable at 1.5% for an eighth consecutive month in September. Core inflation, which excludes volatile items including gasoline and fresh food, ticked down to 0.8% from 0.9% a month earlier.

The Bank of Canada expects inflation to average 1.8% in 2018 and 2.1% in 2019. FocusEconomics Consensus Forecast panelists foresee inflation averaging 1.9% in 2018, which is unchanged from last month’s forecast. For 2018, our panelists expect inflation to average 2.0%.


Author:, Economist

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Canada Inflation September 2017

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


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