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
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %) | 0.9 | 1.9 | 1.1 | 1.4 | 1.6 |
Canada Inflation Chart
Source: Statistics Canada.
Canada Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.95 | 1.00 % | Jan 11 |
| Exchange Rate | 1.33 | 0.15 % | Jan 14 |
| Stock Market | 14,976 | 0.23 % | Jan 14 |
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Economic News
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Canada: Ivey PMI inches up unexpectedly in December
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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.
Canada: Inflation in November falls below the Bank’s target for the first time in 10 months
December 19, 2018
Seasonally-adjusted consumer prices fell 0.2% from a month earlier in November, contrasting October’s 0.3% increase.
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