Producer Prices in Canada
Canada - Producer Prices
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 - Producer Prices Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Inflation (PPI, annual variation in %) | -0.8 | -0.2 | 3.1 | 3.9 | -0.1 |
Canada Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.70 | 1.00 % | Dec 31 |
| Exchange Rate | 1.30 | 0.15 % | Jan 01 |
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Economic News
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Canada: Inflation comes in at highest level since our records began in June
July 20, 2022
Consumer prices increased a seasonally-adjusted 0.59% in June over the previous month, coming in below May's 1.07% rise.
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Canada: House prices record slowest growth since January in June; housing starts dip
July 20, 2022
According to the Teranet-National Bank Composite House Price Index, house prices rose 1.4% in June (May: +2.3%).
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Canada: Bank of Canada hikes rates by 100 basis points in July
July 13, 2022
On 13 July, the Bank of Canada (BoC) raised its target for the overnight rate from 1.50% from 2.50%, marking the fourth consecutive rate hike this year.
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Canada: Manufacturing PMI falls in June
July 1, 2022
The S&P Global Manufacturing Purchasing Managers' Index (PMI) fell to 54.6 in June from May's 56.8.
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Canada: Economic activity growth wanes in April; flash estimate points to contraction in May
June 30, 2022
GDP grew 0.3% in month-on-month seasonally-adjusted terms in April, which was a deterioration from March's 0.7% increase.
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