Canada's annual inflation rose to 2.4 percent in October from 2.2 percent in the previous month and above market expectations of 2.2 percent. Prices of transportation and shelter led the increase. It was the ninth consecutive month that inflation has exceeded the Bank of Canada's 2 percent target. Inflation Rate in Canada averaged 3.14 percent from 1915 until 2018, 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 2.40 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 2.50 in 12 months time. In the long-term, the Canada Inflation Rate is projected to trend around 2.20 percent in 2020, according to our econometric models.

Canada Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-08-17 12:30 PM Inflation Rate YoY 3% 2.5% 2.5% 2.4%
2018-09-21 12:30 PM Inflation Rate YoY 2.8% 3% 2.8% 2.8%
2018-10-19 12:30 PM Inflation Rate YoY 2.2% 2.8% 2.7% 2.6%
2018-11-23 01:30 PM Inflation Rate YoY 2.4% 2.2% 2.2% 2.4%
2018-12-19 01:30 PM Inflation Rate YoY 2.4% 1.8% 2.4%
2019-01-18 01:30 PM Inflation Rate YoY 2.40%
2019-02-27 01:30 PM Inflation Rate YoY



Canada Inflation Rate Above Forecasts



Canada's annual inflation rose to 2.4 percent in October from 2.2 percent in the previous month and above market expectations of 2.2 percent. Prices of transportation and shelter led the increase. It was the ninth consecutive month that inflation has exceeded the Bank of Canada's 2 percent target.

Transportation prices rose 4.3 percent in October (vs 3.9 percent in September), driven by a 12 percent increase in gasoline prices, and shelter costs advanced 2.5 percent, the same pace as in September. Also, food inflation picked up to 2 percent in October from 1.8 percent in the previous month, and prices rose faster for household operations, furnishings and equipment (1.4 percent vs 1.3 percent), recreation, education and reading (1.8 percent vs 0.7 percent) and alcoholic beverages and tobacco products (4.5 percent vs 4.4 percent). On the other hand, inflation slowed for both clothing and footwear (1.3 percent vs 1.5 percent) and health and personal care (0.8 percent vs 1.3 percent).

Regarding special aggregates of the CPI, prices for durable goods increased 0.9 percent in October, compared to a 0.2 percent gain in September. With lower rebates and more new model-year vehicles available, the purchase of passenger vehicles index rose 1.7 percent, after increasing 0.6 percent in September. The price of services rose 2.7 percent in October (vs 2.5 percent in September), boosted by a rebound in prices of travel tours (3 percent vs -4.4 percent in September).

On a monthly basis, consumer prices rose 0.3 percent in October, reversing a 0.4 percent fall in September and beating market expectations of a 0.1 percent advance. Prices for airfares, passenger vehicles and travel tours accelerated the most.


Statistics Canada | Joana Ferreira | joana.ferreira@tradingeconomics.com
11/23/2018 2:02:18 PM


Recent Releases

Canada Inflation Rate Falls to 2.2% in September
The inflation rate in Canada fell to 2.2 percent in September of 2018 from 2.8 percent in August and well below market expectations of 2.7 percent. It was the lowest inflation rate since May, as the transportation index eased, still it remained the largest contributor to the year-over-year increase in consumer prices.
Published on 2018-10-19

Canada Inflation Rate Down to 2.8%
The inflation rate in Canada fell to 2.8 percent in August of 2018 from 3 percent in July, which was the highest inflation rate since September of 2011. Figures came in line with market expectations amid a slowdown in cost of gasoline, utilities and shelter.
Published on 2018-09-21

Canada Inflation Rate Highest since 2011
The inflation rate in Canada increased to 3 percent in July of 2018 from 2.5 percent in June, above market expectations of 2.5 percent. It is the highest inflation rate since September of 2011, boosted by rising prices for gasoline, fuel, air transportation and travel tours.
Published on 2018-08-17

Canada June Inflation Rate at Over 6-Year High
Canada's consumer price inflation rose to 2.5 percent year-on-year in June 2018 from 2.2 percent in the previous month, and above market expectations of 2.4 percent. It was the highest rate since February 2012, mainly driven by higher prices for gasoline and food purchased from restaurants.
Published on 2018-07-20



Canada Prices Last Previous Highest Lowest Unit
Inflation Rate 2.40 2.20 21.60 -17.80 percent [+]
Inflation Rate Mom 0.30 -0.40 2.60 -1.30 percent [+]
Consumer Price Index CPI 134.10 133.70 134.30 12.10 Index Points [+]
Core Consumer Prices 132.20 131.80 132.20 61.70 Index Points [+]
Core Inflation Rate 1.60 1.50 5.40 0.00 percent [+]
GDP Deflator 108.90 117.60 117.60 12.80 Index Points [+]
Producer Prices 119.20 119.00 119.70 15.60 Index Points [+]
Producer Prices Change 5.30 6.30 21.10 -7.20 percent [+]
Export Prices 112.20 128.40 128.40 70.20 Index Points [+]
Import Prices 118.80 136.60 8964.00 82.20 Index Points [+]
Food Inflation 2.00 1.80 20.18 -7.14 percent [+]
CPI Housing Utilities 142.00 141.50 142.00 39.10 Index Points [+]
CPI Transportation 139.30 138.40 142.00 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 December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
2.40 2.20 21.60 -17.80 1915 - 2018 percent Monthly
2002=100




Country Last Previous
Argentina 48.00 Nov/18
Australia 1.90 Sep/18
Brazil 4.05 Nov/18
Canada 2.40 Oct/18
China 2.20 Nov/18
Euro Area 1.90 Nov/18
France 1.90 Nov/18
Germany 2.30 Nov/18
India 2.33 Nov/18
Indonesia 3.23 Nov/18
Italy 1.60 Nov/18
Japan 1.40 Oct/18
Mexico 4.72 Nov/18
Netherlands 2.00 Nov/18
Russia 3.80 Nov/18
Saudi Arabia 2.40 Oct/18
Singapore 0.70 Oct/18
South Africa 5.20 Nov/18
South Korea 2.00 Nov/18
Spain 1.70 Nov/18
Switzerland 0.90 Nov/18
Turkey 21.62 Nov/18
United Kingdom 2.30 Nov/18
United States 2.20 Nov/18


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