Canada Inflation June 2021

Canada

Canada: Inflation plunges to lowest level since March in June

July 28, 2021

Consumer prices increased a seasonally-adjusted 0.14% in June over the previous month, slowing down from the 0.36% increase recorded in May. June's result marked the softest rise in prices since December 2020. The result was driven by falling prices for transportation and food. In addition, prices for recreation and culture grew at a more subdued pace.

Inflation eased to 3.1% in June from May’s 3.6%. June's reading represented the lowest inflation rate since March. Meanwhile, the trend pointed up mildly, with annual average inflation coming in at 1.5% in June (May: 1.3%). Core inflation fell to 2.7% in June, from the previous month's 2.8%.

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 June 2021

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


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