Canada Inflation


Canada: Inflation steady in October

November 20, 2015

In October, seasonally-adjusted consumer prices recorded a 0.2% increase, which was up from a 0.2% decrease recorded in September. According to Statistics Canada, four of the eight components of the index increased.

Inflation was unchanged in October, coming in at 1.0% for the second month in a row and matching market expectations. As a result, inflation is steady at the lower bound of the Bank of Canada’s target range of 2.0% plus/minus 1.0 percentage point. Annual average inflation in October was 1.2%, down from 1.3% in September. However, annual core inflation, which excludes volatile items such as gasoline and fresh food, was level in October at September’s 2.1%.

The Bank of Canada expects headline inflation to average 1.2% for 2015, according to its October Monetary Policy Report. For 2016 the Bank expects average inflation of about 1.5%. FocusEconomics Consensus Forecast panelists expect inflation to average 1.2% in 2015, which is unchanged from the previous month’s forecast. The panel expects inflation to average 1.9% in 2016, which is also unchanged from last month’s forecast.

Author:, Economist

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Canada Inflation Chart

Canada Inflation October 2015

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

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