Inflation in Canada
Canada - Inflation
Inflation returns in June, but remains below the Bank’s target range
Consumer prices increased 0.96% from a month earlier on a seasonally-adjusted basis in June, stronger than the 0.15% rise in May. According to Statistics Canada, a strong rise in clothing and footwear, shelter, and transportation prices drove the month-on-month rise in June.
Consumer prices in annual terms rose 0.7% in June (May: -0.4%). The reading beat market analysts’ expectations of a 0.3% reading, but was well below the Central Bank’s 1.0%–3.0% target range. Meanwhile, annual average inflation ticked down to 1.5% in June from 1.6% the month prior.
FocusEconomics Consensus Forecast analysts, see inflation averaging 0.8% in 2020, which is unchanged from the previous month’s forecast. For 2021, our panelists see inflation averaging 1.8%.
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: Economic output rebounds in May, signaling a stabilization in activity
July 31, 2020
The economy grew 4.5% month-on-month in May, contrasting April’s titanic 11.7% decrease and well above Statistics Canada’s preliminary estimate of a 3.0% increase.
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Canada: Inflation returns in June, but remains below the Bank’s target range
July 22, 2020
Consumer prices increased 0.96% from a month earlier on a seasonally-adjusted basis in June, stronger than the 0.15% rise in May.
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Canada: Housing prices growth continues to ease in June
July 20, 2020
According to the Teranet-National Bank Composite House Price Index, house price growth decelerated to 0.7% on a month-on-month non-seasonally-adjusted basis in June, from May’s 1.1%.
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Canada: Manufacturing sector deteriorates at a softer pace in June
July 2, 2020
In June, the IHS Markit Manufacturing Purchasing Managers’ Index (PMI) increased from 40.6 in May to 47.8.
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Canada: Economic output plummets at the sharpest pace on record in April
June 30, 2020
The economy contracted 11.6% month-on-month in April, sharper than March’s 7.5% decrease and slightly worse than Statistics Canada’s preliminary estimate of a 11.0% fall.
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