Canada Inflation Rate  1915-2018 | Data | Chart | Calendar | Forecast

Consumer prices in Canada increased 2.3 percent year-on-year in March of 2018, above 2.2 percent in February and compared to market expectations of 2.4 percent. It is the highest inflation rate since October of 2014, as prices in seven of the eight major components rose, mainly gasoline. Excluding gasoline, inflation was 1.8 percent, the same as in February. 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.

Canada Inflation Rate
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Canada Inflation Rate Rises to 2.3%, Highest Since October 2014


Consumer prices in Canada increased 2.3 percent year-on-year in March of 2018, above 2.2 percent in February and compared to market expectations of 2.4 percent. It is the highest inflation rate since October of 2014, as prices in seven of the eight major components rose, mainly gasoline. Excluding gasoline, inflation was 1.8 percent, the same as in February.

Seven of eight major components increased on a year-over-year basis in March. The clothing and footwear index (-0.1 percent) was the lone major component to decline year over year.

For the second consecutive month, energy prices rose more on a year-over-year basis. Gasoline prices were 17.1 percent higher compared with March 2017, and were the largest contributor to the gain in energy prices.

The price of services was up 2.7 percent year over year in March. Passenger vehicle insurance premiums rose 1.4 percent in the 12 months to March. Recent interest rate increases continue to impact the mortgage interest cost index (+2.8 percent), which posted its eighth consecutive year-over-year rise.

Consumers paid less on a year-over-year basis for food in March (+1.7 percent) than they did in February (+2.1 percent). Prices for fresh vegetables (-2.1 percent) and meat (-0.4 percent) fell month over month.

Prices for durable goods increased 0.3 percent in the 12 months to March, following a larger gain in February (+0.6 percent). The purchase of passenger vehicles index declined 1.5 percent on a month-over-month basis in March, reflecting higher rebates reported for various 2018 model-year vehicles.

On a monthly basis, prices rose 0.3 percent, below 0.6 percent in February.

The BoC's annual core inflation, which excludes volatile items, edged down to 1.4 percent from 1.5 percent.


Statistics Canada | Joana Taborda | joana.taborda@tradingeconomics.com
4/20/2018 12:43:14 PM


Recent Releases

Canada Inflation Rate Highest Since 2014
The consumer price inflation in Canada increased to 2.2 percent year-on-year in February of 2018, up from 1.7 percent in the prior month and well above market consensus of 2 percent. It was the highest inflation rate since October of 2014, as prices rose mostly for transportation, especially gasoline and vehicles. Meanwhile, food inflation slowed.
Published on 2018-03-23

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The consumer price index in Canada rose 1.9 percent year-on-year in December of 2017, easing from a 2.1 percent gain in the previous month and matching market consensus. Prices of transport contributed the most to the slowdown in inflation. Meanwhile, cost of shelter and food continued to grow. Also, the BoC's annual core inflation, which excludes volatile items, went down to 1.2 percent compared to 1.3 percent in November.
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Calendar GMT Actual Previous Consensus TEForecast
2018-02-23 01:30 PM Inflation Rate YoY 1.7% 1.9% 1.4% 1.9%
2018-03-23 12:30 PM Inflation Rate YoY 2.2% 1.7% 2% 1.7%
2018-04-20 12:30 PM Inflation Rate YoY 2.3% 2.2% 2.4% 1.9%
2018-05-18 12:30 PM Inflation Rate YoY 2.3% 2.3%
2018-06-22 12:30 PM Inflation Rate YoY 2.2%
2018-07-20 12:30 PM Inflation Rate YoY 2.2%


Canada Prices Last Previous Highest Lowest Unit
Inflation Rate 2.30 2.20 21.60 -17.80 percent [+]
Inflation Rate Mom 0.30 0.60 2.60 -1.30 percent [+]
Consumer Price Index CPI 132.90 132.50 132.90 12.10 Index Points [+]
Core Consumer Prices 131.20 131.20 131.20 61.70 Index Points [+]
Core Inflation Rate 1.40 1.50 5.40 0.00 percent [+]
GDP Deflator 116.60 115.20 116.60 12.80 Index Points [+]
Producer Prices 115.40 115.20 115.40 15.60 Index Points [+]
Producer Prices Change 1.90 2.10 21.10 -7.20 percent [+]
Export Prices 120.50 122.60 122.60 70.20 Index Points [+]
Import Prices 130.00 129.30 8964.00 82.20 Index Points [+]
Food Inflation 1.70 2.10 20.18 -7.14 percent [+]
CPI Housing Utilities 140.00 140.00 140.00 39.10 Index Points [+]
CPI Transportation 138.00 137.70 138.00 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 April of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
2.30 2.20 21.60 -17.80 1915 - 2018 percent Monthly
2002=100




inflation rate by Country
Country Last
Australia 1.90 Mar/18
Brazil 2.68 Mar/18
Canada 2.30 Mar/18
China 2.10 Mar/18
Euro Area 1.30 Mar/18
France 1.60 Mar/18
Germany 1.60 Mar/18
India 4.28 Mar/18
Indonesia 3.40 Mar/18
Italy 0.80 Mar/18
Japan 1.10 Mar/18
Mexico 5.04 Mar/18
Netherlands 1.00 Mar/18
Russia 2.40 Mar/18
South Korea 1.30 Mar/18
Spain 1.20 Mar/18
Switzerland 0.80 Mar/18
Turkey 10.23 Mar/18
United Kingdom 2.50 Mar/18
United States 2.40 Mar/18


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