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. source: Statistics Canada
Inflation Rate in Canada averaged 3.10 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 October of 2021.
Inflation Rate in Canada is expected to be 4.10 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 2.50 percent in 2022 and 1.90 percent in 2023, according to our econometric models.