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.