Inflation in Canada

Canada Inflation | Economic News & Forecasts

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  

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Canada Inflation Chart

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

Canada Facts

Bond Yield2.100.48 %Sep 20
Exchange Rate1.230.05 %Sep 21
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