Inflation in Canada

Canada Inflation | Economic News & Forecasts

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  

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Canada Inflation Chart

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

Canada Facts

Value Change Date
Bond Yield1.701.00 %Dec 31
Exchange Rate1.300.15 %Jan 01

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