Canada Inflation October 2020

Canada

Canada: Inflation hits highest level since June in October

November 18, 2020

Consumer prices rose a seasonally-adjusted 0.29% in October over the previous month, picking up from September's 0.22% rise. October's figure marked the sharpest increase in prices since June. The reading was driven by rising prices for housing and food.

Inflation came in at 0.7% in October, which was up from September’s 0.5%. October's result was the highest inflation rate since June. Meanwhile, the trend pointed down mildly, with annual average inflation coming in at 1.0% in October (September: 1.1%). Core inflation was stable, coming in at September's 1.0% in October.

FocusEconomics Consensus Forecast analysts, see inflation averaging 0.6% in 2021, which is unchanged from the previous month’s forecast. For 2022, our panelists see inflation averaging 1.6%.


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Canada Inflation October 20 20 1

Note: Year-on-year and month-on-month variation of seasonally-adjusted consumer price index in %.
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