Canada Inflation May 2021


Canada: Inflation increases in May

June 16, 2021

Consumer prices rose a seasonally-adjusted 0.36% in May over the previous month, moderating from the 0.58% increase logged in April. Looking at the details of the release, prices for transportation rose at a softer pace, while food and housing prices rose at a faster rate.

Inflation came in at 3.6% in May, up from April’s 3.4%. May's figure was the highest inflation rate since May 2011. Annual average inflation rose to 1.3% in May (April: 0.9%). Core inflation rose to 2.8% in May, from the previous month's 2.3%.

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 May 2021 0

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

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