Inflation in Canada

Canada Inflation | Economic News & Forecasts

Canada - Inflation

Inflation inches down from January’s over two-year high

In February, seasonally-adjusted consumer prices declined 0.2% from a month earlier (January: +0.7% month-on-month), which marked the steepest monthly drop in a year. According to Statistics Canada, prices fell in three of the eight major subcomponents of the index. The transportation subcomponent recorded the largest decline, while shelter and household operations, furnishings and equipment prices registered small decreases. Food prices were stable from a month earlier in February.

Inflation inched down to 2.0% in February from 2.1% in January, which had marked the highest print in more than two years. February’s result landed at the midpoint of the Bank of Canada’s target range of 2.0% plus/minus 1.0 percentage point. Meanwhile, annual average inflation in February rose to 1.5% from January’s 1.4% print. Core inflation, which excludes volatile items including gasoline and fresh food, was unchanged from January at 1.7%.

In its January monetary policy report, the Bank of Canada reported that it expects inflation to average 1.8% in 2017 and 1.9% in 2018. FocusEconomics Consensus Forecast panelists expect inflation to average 2.0% in 2017, which is up 0.1 percentage points from last month’s forecast. Our panelists also expect inflation to average 2.0% in 2018.

Canada - Inflation Data

2012  2013  2014  2015  2016  
Inflation Rate (CPI, annual variation in %)0.3  1.8  2.9  1.5  0.9  

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Canada Inflation Chart


Canada Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Statistics Canada.

Canada Facts

ValueChangeDate
Bond Yield1.55-1.27 %Apr 05
Exchange Rate1.34-0.16 %Apr 06
Stock Market15,6970.35 %Apr 06

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