The annual inflation rate in Canada rose to 1% in January of 2021 from 0.7% in December and above market expectations of 0.9%. Prices rebounded for transportation (1% vs -0.6% in December), of which passenger vehicles (2.9% vs 2.5%), mainly attributable to higher availability of new model-year vehicles. In addition, costs fell less for gasoline (-3.3% vs -8.5%) and airfares (-5.5% vs -14.5%). Meantime, prices advanced faster for recreation, education and reading (2.9% vs 2%) and household operations, furnishings and equipment (1.4% vs 0.6%). On the other hand, inflation slowed further for food (1% vs 1.1%), namely meat (1.2% vs 2.5%) and fresh vegetables (0.2% vs 1.1%). Excluding gasoline, inflation rose to 1.3% in January, up from 1.0% in December. On a monthly basis, consumer prices increased 0.6%, the most since June, following a 0.2% drop in December and above market estimates of a 0.4% rise. source: Statistics Canada
Inflation Rate in Canada averaged 3.10 percent from 1915 until 2021, reaching an all time high of 21.60 percent in June of 1920 and a record low of -17.80 percent in June of 1921. This page provides - Canada Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2021.
Inflation Rate in Canada is expected to be 0.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Canada to stand at 1.60 in 12 months time. In the long-term, the Canada Inflation Rate is projected to trend around 2.00 percent in 2022, according to our econometric models.