Inflation in Canada

Canada Inflation (eop) | Economic News & Forecasts

Canada - Inflation (end of period)

Inflation comes in at highest level since our records began in June

Consumer prices increased a seasonally-adjusted 0.59% in June over the previous month, coming in below May's 1.07% rise. The slowdown was primarily driven by softer growth in prices for housing. In addition, price pressures for transportation and recreation and culture eased.

Despite the month-on-month moderation, inflation rose to 8.1% in June from May’s 7.7%. June's result marked the highest inflation rate since our current records began. Meanwhile, the trend pointed up, with annual average inflation coming in at 5.6% in June (May: 5.1%). Finally, core inflation ticked up to 6.2% in June, from May’s 6.1%.

FocusEconomics analysts project inflation to average 6.2% in 2022, which is up 0.6 percentage points from last month’s forecast. In 2023, our panel sees inflation averaging 3.0%.

Canada - Inflation (eop) Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %, eop)1.6  1.5  1.9  2.0  2.2  

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Canada Inflation (eop) 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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