Inflation in Canada
Canada - Inflation
Inflation in November falls below the Bank’s target for the first time in 10 months
Seasonally-adjusted consumer prices fell 0.2% from a month earlier in November, contrasting October’s 0.3% increase. According to Statistics Canada, the decline was driven by lower health and personal care and transport prices. Moreover, gasoline prices continued to sprawl down.
Inflation ticked down to 1.7% in November, from 2.4% in October slightly below market expectations and marked the first time in 10 months inflation was under the Bank’s target of 2.0%. Meanwhile, annual average inflation was unchanged in November from the previous month at 2.3%. Core inflation, which excludes volatile items including fuels and fresh produce, inched down to 1.5% from Octobers 1.6%.
In its July monetary policy report, the Bank of Canada forecast inflation averaging 2.4% in 2018 and 2.2% in 2019. FocusEconomics Consensus Forecast analysts see inflation averaging 2.2% in 2018, which is up 0.1 percentage points from last month’s forecast. For 2019, our panelists see inflation averaging %, unchanged from last month’s forecast.
Canada - Inflation Data
|Inflation Rate (CPI, annual variation in %)||0.9||1.9||1.1||1.4||1.6|
5 years of economic forecasts for more than 30 economic indicators.
Canada Inflation Chart
Source: Statistics Canada.
|Bond Yield||1.95||1.00 %||Jan 11|
|Exchange Rate||1.33||0.15 %||Jan 14|
|Stock Market||14,976||0.23 %||Jan 14|
Get a sample report showing our regional, country and commodities data and analysis.
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
January 14, 2019
House prices edged down 0.3% on a seasonally-adjusted monthly basis in December, according to the Teranet-National Bank National Composite House Price Index (November: -0.3% month-on-month s.a.).
January 9, 2019
Housing starts on a seasonally-adjusted annualized (SAAR) basis abated to 213,419 units in December, according to the Canada Mortgage and Housing Corporation (CMHC).
January 9, 2019
On 9 January, the Bank of Canada (BoC) left its target for the overnight rate unchanged at 1.75%, as widely expected by market analysts. The decision to hold was reinforced by the recent fall in oil prices, the prospect of a global economic slowdown and uncertainty over global trade policy.
January 7, 2019
The Ivey Purchasing Managers’ Index (PMI), prepared by the Ricard Ivey School of Business, increased to 59.7 in December from 57.2 in November.
December 19, 2018
Seasonally-adjusted consumer prices fell 0.2% from a month earlier in November, contrasting October’s 0.3% increase.