Canada Inflation September 2018


Canada: Inflation plummets in September

October 19, 2018

Seasonally-adjusted consumer prices fell 0.1% from a month earlier in September, contrasting August’s 0.1% rise. According to Statistics Canada, the decline was driven by lower transport prices. Moreover, climbing food prices slowed from a month earlier.

Inflation plummeted to 2.2%, down from 2.8% in August and well below analysts’ expectations. Meanwhile, annual average inflation was stable from August at 2.2%. Core inflation, which excludes volatile items including fuels and fresh produce, dipped to 1.5% from 1.7%.

Canada Inflation Forecast

In its July monetary policy report, the Bank of Canada forecast inflation averaging 2.4% in 2018 and 2.2% in 2019. FocusEconomics Consensus Forecast analysts see inflation averaging 2.2% in 2018, which is up 0.1 percentage points from last month’s forecast. For 2019, our panelists see inflation averaging 2.0%, unchanged from last month’s forecast.


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Canada Inflation Chart

Canada Inflation September 2018

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

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