Canada Inflation


Canada: Inflation steps up in June

July 20, 2012

In June, consumer prices decreased a seasonally adjusted 0.2% over the previous month, which followed the 0.3% drop recorded in May. The monthly price fall mainly reflected a sharp drop in prices for transportation. In spite of the monthly decline, annual headline inflation rose from 1.2% in May to 1.5% in June, undershooting market expectations of a 1.7% increase. Currently, Canada's inflation remains within the Central Bank's target of 2.0% with a tolerance margin of +/- 1.0 percentage points. Meanwhile, annual average inflation inched down from 2.5% in May to 2.4%. Simultaneously, core inflation, which excludes volatile items such as gasoline and fresh food, rose from 1.8% in May to 2.0% in June. The Bank of Canada expects headline inflation to average 2.2% in 2012 and 2.0% in 2013.


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Canada Inflation Chart

Canada Inflation June 2012

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

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