The annual inflation rate in Canada fell to 2.2 percent in February 2020 from 2.4 percent in January but above market expectations of 2.1 percent. Prices eased for food (2.4 percent vs 3.2 percent in January), as cost of fruit & vegetables rose at the softest pace since June 2018; shelter (2.3 percent vs 2.4 percent); clothing & footwear (2.7 percent vs 3.9 percent); health & personal care (1.9 percent vs 2.1 percent) and alcoholic beverage & tobacco (0.3 percent vs 0.5 percent). In contrast, prices went up further for transportation (4.4 percent vs 3.9 percent), despite a slowdown in gasoline (7 percent vs 11.2 percent) amid lower crude oil prices due to global demand following the coronavirus outbreak. Also, cost of recreation, education & reading rebounded (0.7 percent vs -0.3 percent) and household furnishings & equipment prices fell less (-0.2 percent vs -0.6 percent). On a monthly basis, consumer prices advanced 0.4 percent, after a 0.3 percent gain in January.
Inflation Rate in Canada averaged 3.13 percent from 1915 until 2020, 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 April of 2020. source: Statistics Canada
Inflation Rate in Canada is expected to be 2.10 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 1.90 in 12 months time. In the long-term, the Canada Inflation Rate is projected to trend around 2.00 percent in 2021 and 2.20 percent in 2022, according to our econometric models.