Inflation in Canada

Canada Inflation | Economic News & Forecasts

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  

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Canada Inflation Chart

Canada Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Statistics Canada.

Canada Facts

Bond Yield1.951.00 %Jan 11
Exchange Rate1.330.15 %Jan 14
Stock Market14,9760.23 %Jan 14

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