Inflation in Canada
Canada - Inflation
Inflation edges up in July from June’s nearly two-year low
Seasonally-adjusted consumer prices rose 0.2% in July following June’s flat print. According to Statistics Canada, the rise was driven by higher prices for clothing and footwear, and partially offset by lower prices for household operations, furnishing and equipment. Meanwhile, four other major subcomponents of the index posted more moderate gains.
Inflation was 1.2% in July, up from 1.0% in June and within the Bank of Canada’s target range of 2.0% plus or minus 1.0 percentage point. Meanwhile, annual average inflation was stable at 1.5% for a sixth consecutive month in July. Core inflation, which excludes volatile items including gasoline and fresh food, was stable at 0.9% in July from a month earlier.
The Bank of Canada expects inflation to average 1.6% in 2017 and 1.8% in 2018. FocusEconomics Consensus Forecast panelists foresee inflation averaging 1.8% in 2017, which is unchanged from last month’s forecast. For 2018, our panelists expect inflation to average 2.0%.
Canada - Inflation Data
| 2012 | 2013 | 2014 | 2015 | 2016 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %) | 1.5 | 0.9 | 1.9 | 1.1 | 1.4 |
Canada Inflation Chart
Source: Statistics Canada.
Canada Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 2.10 | 0.48 % | Sep 20 |
| Exchange Rate | 1.23 | 0.05 % | Sep 21 |
| Stock Market | 15,455 | 0.42 % | Sep 21 |
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Economic News
Canada: Ivey PMI cools off for a second consecutive month in August
September 7, 2017
The Canadian manufacturing sector contracted further in August following a drop in July, according to the Ivey Purchasing Managers Index (PMI), prepared by the Richard Ivey School of Business.
Canada: Bank of Canada raises policy rate for a second time in September
September 6, 2017
On 6 September, the Bank of Canada (BoC) raised its target for the overnight rate by 25 basis points from 0.75% to 1.00%, following its first 25-basis-points hike on 12 July.
Canada: GDP growth surges in Q2
August 31, 2017
The Canadian economy was the fastest-growing of the G7 countries in Q2, defying market expectations.
Canada: Inflation edges up in July from June’s nearly two-year low
August 18, 2017
Seasonally-adjusted consumer prices rose 0.2% in July following June’s flat print.
Canada: Housing prices cool in in July
August 14, 2017
In July, the Teranet-National Bank National Composite House Price Index recorded a monthly increase of 2.0%, a cooling compared to June’s record-breaking 2.6% rise. The July hike in the Bank of Canada’s interest rate and sweeping measures by the government are likely helping cool rising property prices across Canada.
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