Canada Inflation November 2017


Canada: Inflation picks up markedly in November

December 21, 2017

Seasonally-adjusted consumer prices rose 0.5% in November from the prior month, up from October’s 0.2% rise. According to Statistics Canada, November’s increase was primarily due to higher transport prices. Health and personal care was the only sub-sector to record a month-on-month decline in prices.

Inflation came in at 2.1% in November, up significantly from October’s 1.4% but still comfortably within the Bank of Canada’s target range of 2.0% plus/minus 1.0 percentage point. Meanwhile, annual average inflation ticked up from 1.5% in October to 1.6% in November. Core inflation, which excludes volatile items including gasoline and fresh food, rose from 0.9% to 1.3%.

Canada Inflation Forecast

The Bank of Canada expects inflation to average 1.7% 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 2019, our panelists expect inflation to average 2.0%.

Author:, Economist

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Canada Inflation Chart

Canada Inflation November 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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