The annual inflation rate in Canada was at 2 percent in July 2019, unchanged from the previous month and above market expectations of 1.7 percent, as a slowdown in cost of services was offset by a rise in prices of goods, namely durable goods and food. On a monthly basis, consumer prices went up 0.5 percent, rebounding from a 0.2 percent fall in June and compared with market forecasts of a 0.2 percent gain. Inflation Rate in Canada averaged 3.13 percent from 1915 until 2019, 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.

Inflation Rate in Canada is expected to be 2.00 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 2.20 in 12 months time. In the long-term, the Canada Inflation Rate is projected to trend around 2.10 percent in 2020, according to our econometric models.

Canada Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-05-15 12:30 PM Inflation Rate YoY Apr 2% 1.9% 2% 2%
2019-06-19 12:30 PM Inflation Rate YoY May 2.4% 2% 2.1% 2.1%
2019-07-17 12:30 PM Inflation Rate YoY Jun 2% 2.4% 2% 2.2%
2019-08-21 12:30 PM Inflation Rate YoY Jul 2% 2% 1.7% 1.8%
2019-09-18 12:30 PM Inflation Rate YoY Aug 2% 2% 1.9%
2019-10-16 12:30 PM Inflation Rate YoY Sep 1.8%
2019-11-20 01:30 PM Inflation Rate YoY Oct 1.7%



Canada July Inflation Rate Steady at 2%

The annual inflation rate in Canada was at 2 percent in July 2019, unchanged from the previous month and above market expectations of 1.7 percent, as a slowdown in cost of services was offset by a rise in prices of goods, namely durable goods and food

Year-on-year, prices eased for shelter (2.3 percent from 2.5 percent in June); transportation (1.5 percent from 1.6 percent), namely air transportation (4.6 percent from percent) and travel tours (7.5 percent from percent); household operations, furnishings and equipment (0.3 percent from 1.2 percent); clothing and footwear (1.1 percent from 1.6 percent) and alcoholic beverages, tobacco and recreational cannabis (1.2 percent from 1.4 percent). On the other hand, cost advanced further for food (3.8 percent from at 3.5 percent), recreation, education and reading (2.7 percent from 2.0 percent) and health and personal care (1.5 percent from 1.1 percent).

Regarding special aggregates of the CPI, cost of services slowed to 2.4 percent in July from 2.8 percent in June, as consumers paid less for telephone services (-2.5 percent) due to an industry-wide shift in the pricing structure of cellular data plans amid intensifying competition among wireless providers. The introduction of unlimited data plans coincided with a reduction in the subsidies for wireless devices, shifting more of the cost of devices to consumers. Meanwhile, cost of goods rose 1.3 percent, after increasing 0.9 percent in the prior month, boosted by durable (1.9 percent from 1.4 percent), semi-durable (0.6 percent from 0.4 percent) and non-durable goods (1.3 percent from 0.8 percent). Additionally, cost of energy declined at a softer pace (-3.2 percent from -4.1 percent).

On a monthly basis, consumer prices went up 0.5 percent, rebounding from a 0.2 percent fall in June and compared with market forecasts of a 0.2 percent gain.

The BoC's annual core inflation, which excludes volatile items, was steady at 2 percent, below market consensus of 2.3 percent.


Statistics Canada | Stefanie Moya | stefanie.moya@tradingeconomics.com
8/21/2019 12:57:37 PM


News

Canada Inflation Rate Slows to 2% in June
The annual inflation rate in Canada decreased to 2 percent in June of 2019 from 2.4 percent in the previous month and in line with market expectations, as cost slowed for shelter and transportation and energy prices fell further. Excluding energy, the inflation dropped to 2.6 percent in June from 2.7 percent in May.
Published on 2019-07-17

Canada Inflation Rate Rises to 7-Month High in May
The annual inflation rate in Canada increased to 2.4 percent in May 2019 from 2 percent in the previous month and above market expectations of 2.1. It was the highest inflation rate since October, mainly boosted by cost of food and transportation
Published on 2019-06-19

Canada Inflation Rate at 4-Month High of 2%
The annual inflation rate in Canada edged up to 2 percent in April 2019 from 1.9 percent in the prior month, matching market expectations. It is the highest inflation rate since December, driven by prices of shelter and transportation.
Published on 2019-05-15

Canada Inflation Rate Hits 3-Month High of 1.9%
The annual inflation rate in Canada rose to 1.9 percent in March 2019 from 1.5 percent in the previous month and matching market expectations. It is the highest inflation rate since December. The transportation index drove headline inflation up, as gasoline prices declined less in March than in February.
Published on 2019-04-17



Canada Prices Last Previous Highest Lowest Unit
Inflation Rate 2.00 2.00 21.60 -17.80 percent [+]
Inflation Rate Mom 0.50 -0.20 2.60 -1.30 percent [+]
Consumer Price Index CPI 137.00 136.30 137.00 12.10 Index Points [+]
Core Consumer Prices 134.30 133.90 134.30 61.70 Index Points [+]
Core Inflation Rate 2.00 2.00 5.40 0.00 percent [+]
GDP Deflator 110.20 109.00 110.20 11.80 Index Points [+]
Producer Prices 117.30 117.70 119.70 15.60 Index Points [+]
Producer Prices Change -1.70 -1.70 21.10 -7.20 percent [+]
Export Prices 109.70 110.50 113.90 59.50 Index Points [+]
Import Prices 119.30 120.80 8964.00 73.00 Index Points [+]
Food Inflation 3.80 3.50 20.18 -7.14 percent [+]
Wholesale Prices 106.20 104.90 137.30 40.40 Index Points [+]
CPI Housing Utilities 144.30 144.00 144.30 39.10 Index Points [+]
CPI Transportation 144.20 142.70 144.20 10.90 Index Points [+]


Canada Inflation Rate

In Canada, the most important categories in the CPI basket are Shelter (27.5 percent of the total weight) and Transportation (19.3 percent). Food accounts for 16.1 percent; Household Operations, Furnishings and Equipment for 11.8 percent; Recreation, Education and Reading for 11.8 percent; Clothing and Footwear for 5.7 percent; Health and Personal Care for 5 percent; Alcoholic Beverages and Tobacco Products for the remaining 3 percent. The CPI basket is reviewed every four years on the basis of household surveys. The current weights are based on spending patterns in 2009. This page provides - Canada Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Inflation Rate - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
2.00 2.00 21.60 -17.80 1915 - 2019 percent Monthly
2002=100




Country Last Previous
Argentina 53.60 Aug/19
Australia 1.60 Jun/19
Brazil 3.43 Aug/19
Canada 2.00 Jul/19
China 2.80 Aug/19
Euro Area 1.00 Aug/19
France 1.00 Aug/19
Germany 1.40 Aug/19
India 3.21 Aug/19
Indonesia 3.49 Aug/19
Italy 0.40 Aug/19
Japan 0.50 Jul/19
Mexico 3.16 Aug/19
Netherlands 2.80 Aug/19
Russia 4.30 Aug/19
Saudi Arabia -1.30 Jul/19
Singapore 0.40 Jul/19
South Africa 4.00 Jul/19
South Korea 0.00 Aug/19
Spain 0.30 Aug/19
Switzerland 0.30 Aug/19
Turkey 15.01 Aug/19
United Kingdom 2.10 Jul/19
United States 1.70 Aug/19


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