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.

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Canada Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.20 2.40 21.60 -17.80 1915 - 2020 percent Monthly
2002=100


Calendar GMT Actual Previous Consensus TEForecast
2019-12-18 01:30 PM Nov 2.2% 1.9% 2.2% 2.1%
2020-01-22 01:30 PM Dec 2.2% 2.2% 2.2% 2.2%
2020-02-19 01:30 PM Jan 2.4% 2.2% 2.3% 2.3%
2020-03-18 12:30 PM Feb 2.2% 2.4% 2.1% 2.2%
2020-04-22 12:30 PM Mar 2.2% 2%
2020-05-20 12:30 PM Apr 2.1%
2020-06-17 12:30 PM May
2020-07-22 12:30 PM Jun 2.2%


News Stream
Canada Inflation Rate Eases to 2.2% in February
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.
2020-03-18
Canada January Inflation Rate at 8-Month High of 2.4%
The annual inflation rate in Canada rose to 2.4 percent in January 2020 from 2.2 percent in the previous month and above market expectations of 2.3 percent. It was the highest inflation rate since May last year, boosted by transportation (3.9 percent vs 3.7 percent in December), driven by gasoline (11.2 percent), amid concerns over global oil supplies due to tensions between the US and Iran; and food (3.2 percent vs 3 percent), led by vegetables (5 percent). Also, cost advanced further for clothing & footwear (3.9 percent vs 2.9 percent); health & personal care (2.1 percent vs 1.8 percent) and alcoholic beverages, tobacco & recreational cannabis (0.5 percent vs 0.4 percent). Meanwhile, prices eased for shelter (2.4 percent vs 2.8 percent) and fell for household operations, furnishings & equipment (-0.6 percent vs 2.9 percent) and recreation, education & reading (-0.3 percent vs 0.3 percent). On a monthly basis, consumer prices went up 0.3 percent, after a flat reading in December.
2020-02-19
Canada Inflation Rate Steady at 2.2% in December
The annual inflation rate in Canada was at 2 percent in December 2019, unchanged from the previous month and matching market expectations. Prices advanced further for transportation (3.7 vs 3.2 percent in November), boosted by gasoline (7.4 percent), as crude oil prices in December 2018 fell amid a global oversupply, and fuel oil & other fuels (3.5 percent); shelter (2.8 percent vs 2.5 percent); recreation, education & reading (0.3 percent vs 0.2 percent); and clothing & footwear (2.9 percent vs 2.7 percent). Also, cost of household operations, furnishings & equipment rebounded (2.9 percent vs -0.2 percent). Meanwhile, prices eased for food (3 percent vs 3.4 percent); health & personal care (1.8 percent vs 2.3 percent); and alcoholic beverages, tobacco and recreational cannabis (0.4 percent vs 1.2 percent). On a monthly basis, consumer prices were flat, after falling 0.1 percent in November. Considering full 2019, the inflation rate was at 1.9 percent, compared to 2.3 percent in 2018.
2020-01-22
Canada November Inflation Rate Rises to 6-Month High
The annual inflation rate in Canada rose to 2.2 percent in November 2019 from 1.9 percent in the previous month, matching market expectations. It was the highest inflation rate since May, driven by a rebound in energy prices, as cost of gasoline increased for the first time since October 2018. On a monthly basis, consumer prices fell 0.1 percent, after a 0.3 percent rise in October.
2019-12-18

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.