The annual inflation rate in Canada rose to 1.5 percent in February 2019 from 1.4 percent in the previous month and above market expectations of 1.4 percent. All eight major components were up year over year in February, with the shelter index (+2.4%) contributing most to the increase. Inflation Rate in Canada averaged 3.14 percent from 1915 until 2019, 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 1.30 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 2.10 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.

Canada Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-12-19 01:30 PM Inflation Rate YoY 1.7% 2.4% 1.8% 2.4%
2019-01-18 01:30 PM Inflation Rate YoY 2% 1.7% 1.7% 1.7%
2019-02-27 01:30 PM Inflation Rate YoY 1.4% 2% 1.5% 1.8%
2019-03-22 12:30 PM Inflation Rate YoY 1.5% 1.4% 1.4% 1.5%
2019-04-17 12:30 PM Inflation Rate YoY 1.4%
2019-05-15 12:30 PM Inflation Rate YoY
2019-06-19 12:30 PM Inflation Rate YoY



Canada Annual Inflation Rate Rises to 1.5% in February

The annual inflation rate in Canada rose to 1.5 percent in February 2019 from 1.4 percent in the previous month and above market expectations of 1.4 percent. Prices increased further mainly driven by food and shelter.

Year-on-year, prices advanced further for food (3.2 percent from 2.8 percent in January), namely fresh vegetables (14.3 percent) and fruit (3.8 percent); and clothing and footwear (1.6 percent from 0.5 percent). Also, cost of transportation rebounded (0.1 percent from -0.4 percent) and inflation was steady for shelter (2.4 percent, the same as in January) and health and personal care (0.6 percent). On the other hand, prices eased for household operations, furnishings and equipment (0.2 percent from 0.7 percent); recreation, education and reading (1.0 percent from 1.3 percent); and alcoholic beverages and tobacco products (4.1 percent from 4.5 percent). 

Regarding special aggregates of the CPI, prices for durable goods increased 0.3 percent, rebounding from a 0.1 percent decline in the prior month. In addition, the price of energy products went down 5.7 percent, less than a 6.9 percent fall in January, of which gasoline (-11.9 percent). Meanwhile, cost of services slowed to 2.3 percent from 2.7 percent in the previous month.

On a monthly basis, consumer prices went up 0.7 percent, after a 0.1 percent in January and higher than market consensus of 0.6 percent.

The BoC's annual core inflation, which excludes volatile items, was at 1.5 percent, unchanged from the prior month.


Statistics Canada | Stefanie Moya | stefanie.moya@tradingeconomics.com
3/22/2019 12:57:47 PM



Canada Prices Last Previous Highest Lowest Unit
Inflation Rate 1.50 1.40 21.60 -17.80 percent [+]
Inflation Rate Mom 0.70 0.10 2.60 -1.30 percent [+]
Consumer Price Index CPI 134.50 133.60 134.50 12.10 Index Points [+]
Core Consumer Prices 133.10 132.80 133.10 61.70 Index Points [+]
Core Inflation Rate 1.50 1.50 5.40 0.00 percent [+]
GDP Deflator 107.70 108.60 108.60 11.80 Index Points [+]
Producer Prices 116.70 117.10 119.70 15.60 Index Points [+]
Producer Prices Change 1.00 2.00 21.10 -7.20 percent [+]
Export Prices 106.70 110.90 113.50 59.50 Index Points [+]
Import Prices 122.10 120.20 8964.00 73.00 Index Points [+]
Food Inflation 3.20 2.80 20.18 -7.14 percent [+]
CPI Housing Utilities 143.40 143.00 143.40 39.10 Index Points [+]
CPI Transportation 137.90 136.60 142.00 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 March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1.50 1.40 21.60 -17.80 1915 - 2019 percent Monthly
2002=100




Country Last Previous
Argentina 50.70 Feb/19
Australia 1.80 Dec/18
Brazil 3.89 Feb/19
Canada 1.50 Feb/19
China 1.50 Feb/19
Euro Area 1.50 Feb/19
France 1.30 Feb/19
Germany 1.50 Feb/19
India 2.57 Feb/19
Indonesia 2.57 Feb/19
Italy 1.00 Feb/19
Japan 0.20 Feb/19
Mexico 3.94 Feb/19
Netherlands 2.60 Feb/19
Russia 5.20 Feb/19
Saudi Arabia -2.20 Feb/19
Singapore 0.50 Feb/19
South Africa 4.10 Feb/19
South Korea 0.50 Feb/19
Spain 1.10 Feb/19
Switzerland 0.60 Feb/19
Turkey 19.67 Feb/19
United Kingdom 1.90 Feb/19
United States 1.50 Feb/19


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