Canada’s headline inflation rate rose to 4.7% in October of 2021 from 4.4% in the prior month, in line with market expectations. It was the highest inflation rate since February of 2003, amid supply chain issues and low base year effects. Prices rose in all eight major components, with the strongest pressure coming from transportation (10.1% vs 9.1% in September), the steepest increase since March 2003, underpinned by energy costs (25.5%). Also, significant contributions came from prices of shelter (4.8%, the same as in September) and food (3.8% vs 3.9%), as a combination of labor shortages, supply chain issues, and higher feed prices pushed costs of meat products sharply higher (9.9%). Excluding energy, the CPI rose 3.3%, the same pace as in the previous month. On a monthly basis, consumer prices went up 0.7%, quickening from a 0.2% gain in September, as expected. source: Statistics Canada

Inflation Rate in Canada averaged 3.11 percent from 1915 until 2021, 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 December of 2021.

Inflation Rate in Canada is expected to be 4.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada Inflation Rate is projected to trend around 2.20 percent in 2022 and 2.50 percent in 2023, according to our econometric models.

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Canada Inflation Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-10-20 12:30 PM Sep 4.4% 4.1% 4.3% 4.4%
2021-11-17 01:30 PM Oct 4.7% 4.4% 4.7% 4.9%
2021-12-15 01:30 PM Nov 4.7% 4.9%


Related Last Previous Unit Reference
Inflation Rate 4.70 4.40 percent Oct/21
Inflation Rate Mom 0.70 0.20 percent Oct/21
Consumer Price Index CPI 143.90 142.90 points Oct/21
Core Consumer Prices 141.50 140.70 points Oct/21
Core Inflation Rate 3.80 3.70 percent Oct/21
GDP Deflator 119.60 118.70 points Sep/21
Producer Prices 117.70 116.20 points Oct/21
Producer Prices Change 16.70 15.30 percent Oct/21
Export Prices 129.70 127.40 points Sep/21
Import Prices 132.20 130.00 points Sep/21
Food Inflation 3.80 3.90 percent Oct/21
Wholesale Prices 133.30 127.20 points Oct/21
CPI Transportation 155.40 153.20 points Oct/21
CPI Housing Utilities 155.40 154.40 points Oct/21

News Stream
Canada Inflation Rate Climbs to Over 18-Year High
Canada’s headline inflation rate rose to 4.7% in October of 2021 from 4.4% in the prior month, in line with market expectations. It was the highest inflation rate since February of 2003, amid supply chain issues and low base year effects. Prices rose in all eight major components, with the strongest pressure coming from transportation (10.1% vs 9.1% in September), the steepest increase since March 2003, underpinned by energy costs (25.5%). Also, significant contributions came from prices of shelter (4.8%, the same as in September) and food (3.8% vs 3.9%), as a combination of labor shortages, supply chain issues, and higher feed prices pushed costs of meat products sharply higher (9.9%). Excluding energy, the CPI rose 3.3%, the same pace as in the previous month. On a monthly basis, consumer prices went up 0.7%, quickening from a 0.2% gain in September, as expected.
2021-11-17
Canada Inflation Rate Quickens to 18-1/2-Year High
The annual inflation rate in Canada went up to 4.4% in September of 2021 from 4.1% in August, faster than market expectations of 4.3%. It was the highest inflation rate since February of 2003, amid supply chain issues and low base year effects. Prices rose in all of the eight major components, with main upward pressure coming from transportation (9.1% vs 8.7% in August), of which gasoline (32.8% vs 32.5%) contributed the most to the overall increase. Also, the increases were significant in the cost of shelter (4.8%, the same as in August) and food (3.9% vs 2.7%). Excluding gasoline, the CPI rose 3.5%, up from 3.2% in August. On a monthly basis, consumer prices went up 0.2%, the same pace as in the prior month but slightly above market estimates of a 0.1% increase.
2021-10-20
Canada August Inflation Rate Highest since 2003
The annual inflation rate in Canada accelerated to 4.1% in August of 2021 from 3.7% in July and compared to market forecasts of 3.9%. It was the highest inflation rate since March of 2003, with upward pressure stemming from an accumulation of recent price pressures and from lower price levels in 2020. Prices rose in seven of the eight major components, with transportation prices (8.7% vs 6.6%), of which gasoline (32.5% vs 30.9%) contributing the most to the overall increase. Conversely, consumers paid less for clothing and footwear (-0.2%). Excluding gasoline, the CPI rose 3.2%, up from 2.8% in July. On a monthly basis, consumer prices went up 0.2%, slowing from a 0.6% rise in the prior month but slightly above market estimates of a 0.1% increase.
2021-09-15

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.