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
|Inflation Rate (CPI, annual variation in %)||1.1||1.4||1.6||2.3||1.9|
5 years of economic forecasts for more than 30 economic indicators.
Canada Inflation Chart
Source: Statistics Canada.
|Bond Yield||1.70||1.00 %||Dec 31|
|Exchange Rate||1.30||0.15 %||Jan 01|
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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.
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.
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%.
July 2, 2020
In June, the IHS Markit Manufacturing Purchasing Managers’ Index (PMI) increased from 40.6 in May to 47.8.
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.