Inflation in Canada
Canada - Inflation
Inflation plunges to lowest level since March in June
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%.
Canada - Inflation Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %) | 1.1 | 1.4 | 1.6 | 2.3 | 1.9 |
Canada Inflation Chart
Source: Statistics Canada.
Canada Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.70 | 1.00 % | Dec 31 |
| Exchange Rate | 1.30 | 0.15 % | Jan 01 |
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Economic News
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Canada: House price growth eases in July, but remains upbeat
August 19, 2021
According to the Teranet-National Bank Composite House Price Index, house price growth fell to 2.0% on a month-on-month non-seasonally-adjusted basis in July, from June’s 2.7%.
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Canada: Housing starts ease in July, but remain upbeat
August 17, 2021
Housing starts ticked down to 272,176 units on a seasonally-adjusted annualized rate (SAAR) basis in July according to the Canada Mortgage and Housing Corporation (CMHC), from June’s 281,200-unit reading.
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Canada: Manufacturing PMI eases slightly in July, but remains firmly in expansionary territory
August 3, 2021
In July, the IHS Markit Manufacturing Purchasing Managers’ Index (PMI) fell from 56.5 in June to 56.2.
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Canada: GDP contracts in May; preliminary estimate points to a rebound in June
July 30, 2021
The economy fell 0.3% month-on-month in May, which was softer than April’s 0.5% fall, and Statistics Canada’s preliminary estimate made in early July.
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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.
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