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.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
Canada Inflation Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-06-16 12:30 PM May 3.6% 3.4% 3.5% 3.6%
2021-07-28 12:30 PM Jun 3.1% 3.6% 3.2% 3.1%
2021-08-18 12:30 PM Jul 3.7% 3.1% 3.4% 3.3%
2021-09-15 12:30 PM Aug 4.1% 3.7% 3.9% 3.7%
2021-10-20 12:30 PM Sep 4.1% 4.3% 4.4%
2021-11-17 01:30 PM Oct
2021-12-15 01:30 PM Nov


News Stream
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 July Inflation Rate at Over 10-Year High
The annual inflation rate in Canada quickened to 3.7% in July of 2021 from 3.1% in June and compared to market forecasts of 3.4%, with base effects from last year still weighing. It was the highest inflation rate since May of 2011, as prices rose at a faster pace in six of the eight major components in July, with shelter prices (4.8%) contributing the most to the all-items increase. Excluding gasoline, the CPI increased 2.8%. On a monthly basis, the CPI rose 0.6% in July, the fastest pace since January 2021.
2021-08-18
Canada Inflation Rate Slows from 10-Year High
Annual inflation rate in Canada eased to 3.1% in June of 2021 from a 10 year high of 3.6% hit in May and compared to market forecasts of 3.2%, with base effects from last year still weighing. Shelter (+4.4%) and transportation (+5.6%) contributed the most to the all-items increase. Meanwhile, cost increased at a slower pace in four of the eight major components, mostly for women's clothing. Also, gasoline prices rose to a lesser extent in June (+32.0%) than in May. Excluding gasoline, the CPI was up 2.2%.
2021-07-28
Canada Inflation Rate at 10-Year High
Canada’s annual inflation rate quickened to 3.6 percent in May of 2021 from 3.4 percent in April and was above market expectations of a 3.5 percent rise. It was the highest jump in consumer prices since May of 2011, with a significant proportion of increase attributable to low base year effects in some consumer goods, namely in gasoline. Thus, strong inflationary pressure was seen in transportation costs (+7.6 percent), on account of a 43.4 percent surge in gasoline prices. Additionally, prices climbed at the fastest pace since September of 2008 for shelters (+4.2 percent). The homeowners' replacement cost index resumed its trend upwards, jumping 11.3 percent, the most since 1987, as prices for new homes continued to be influenced by shifting consumer preferences and higher construction costs. On a monthly basis, consumer prices went up by 0.5 percent, the same as in the past three months and slightly above forecasts of a 0.4 percent rise.
2021-06-16

Canada Last Unit Reference Previous Highest Lowest
Inflation Rate 4.10 percent Aug/21 3.70 21.60 -17.80
Inflation Rate Mom 0.20 percent Aug/21 0.60 2.60 -1.30
Consumer Price Index CPI 142.60 points Aug/21 142.30 142.60 12.10
Core Inflation Rate 3.50 percent Aug/21 3.30 5.40 0.00
Core Consumer Prices 140.30 points Aug/21 140.00 140.30 61.70
GDP Deflator 118.90 points Jun/21 116.30 118.90 11.80
Producer Prices 115.90 points Sep/21 114.80 115.90 13.30
Producer Prices Change 15.00 percent Sep/21 14.70 21.46 -7.14
Export Prices 127.40 points Aug/21 128.20 128.20 62.60
Import Prices 130.00 points Aug/21 127.70 8964.00 75.90
Food Inflation 2.70 percent Aug/21 1.70 20.18 -7.14
Wholesale Prices 124.60 points Aug/21 127.60 130.70 38.50
CPI Transportation 153.80 points Aug/21 152.20 153.80 10.90
CPI Housing Utilities 153.90 points Aug/21 153.50 153.90 39.10


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.