The annual inflation rate in Canada rose to 2.0 percent in December 2018 from 1.7 percent in the previous month. Figures came above market expectations of 1.7 percent, mainly driven by higher prices of fresh vegetables and various services, including air transportation, telephone services and travel tours. Inflation Rate in Canada averaged 3.14 percent from 1915 until 2018, 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 2.40 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 2.50 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
2018-10-19 12:30 PM Inflation Rate YoY 2.2% 2.8% 2.7% 2.6%
2018-11-23 01:30 PM Inflation Rate YoY 2.4% 2.2% 2.2% 2.4%
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 2%
2019-03-22 12:30 PM Inflation Rate YoY
2019-04-17 12:30 PM Inflation Rate YoY 2.2%



Canada Annual Inflation Rate Rises to 2% in December

The annual inflation rate in Canada rose to 2.0 percent in December 2018 from 1.7 percent in the previous month. Figures came above market expectations of 1.7 percent, mainly driven by higher prices of various services, including air transportation, telephone services and travel tours.

Year-on-year, prices of transportation increased further (1.7 percent from 1.0 percent in November), boosted by higher cost of air transportation. Additionally, prices went up at a faster pace for food (2.9 percent from 2.2 percent); household operations, furnishings and equipment (2.1 percent from 0.9 percent); recreation, education and reading (1.5 percent from 1.2 percent); health and personal care (1.0 percent from 0.7 percent); and alcoholic beverages and tobacco products (4.4 percent from 4.6 percent). Meanwhile, shelter costs advanced 2.2 percent, slowing from a 2.4 percent gain in November. Also, prices of clothing and footwear eased (0.2 percent from 0.6 percent).

Regarding special aggregates of the CPI, prices for durable goods declined 0.8 percent, after falling 0.1 percent in the prior month. In addition, the price of energy products dropped 3.7 percent, following a 1.3 percent decrease in November, as crude oil prices continued to fall amid a global supply glut. On the other hand, cost of services rose 3.5 percent, after a 2.7 percent gain in the previous month.

On a seasonally adjusted monthly basis, consumer prices fell 0.1 percent, following a 0.4 percent decline in the prior month and compared with market consensus of a 0.4 percent decrease. Cost of food and the health and personal care rose the most.

The BoC's annual core inflation, which excludes volatile items, increased to 1.7 percent from 1.5 percent in November.



Statistics Canada | Stefanie Moya | stefanie.moya@tradingeconomics.com
1/18/2019 2:03:08 PM



Canada Prices Last Previous Highest Lowest Unit
Inflation Rate 2.00 1.70 21.60 -17.80 percent [+]
Inflation Rate Mom -0.10 -0.40 2.60 -1.30 percent [+]
Consumer Price Index CPI 133.40 133.50 134.30 12.10 Index Points [+]
Core Consumer Prices 132.60 132.30 132.60 61.70 Index Points [+]
Core Inflation Rate 1.70 1.50 5.40 0.00 percent [+]
GDP Deflator 108.90 117.60 117.60 12.80 Index Points [+]
Producer Prices 118.10 119.10 119.70 15.60 Index Points [+]
Producer Prices Change 2.80 5.20 21.10 -7.20 percent [+]
Export Prices 110.90 111.80 113.50 59.50 Index Points [+]
Import Prices 120.20 119.00 8964.00 73.00 Index Points [+]
Food Inflation 2.90 2.20 20.18 -7.14 percent [+]
CPI Housing Utilities 142.30 142.30 142.30 39.10 Index Points [+]
CPI Transportation 138.00 137.10 142.00 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 January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
2.00 1.70 21.60 -17.80 1915 - 2018 percent Monthly
2002=100




Country Last Previous
Argentina 47.10 Dec/18
Australia 1.90 Sep/18
Brazil 3.75 Dec/18
Canada 2.00 Dec/18
China 1.90 Dec/18
Euro Area 1.60 Dec/18
France 1.60 Dec/18
Germany 1.70 Dec/18
India 2.19 Dec/18
Indonesia 3.13 Dec/18
Italy 1.10 Dec/18
Japan 0.30 Dec/18
Mexico 4.83 Dec/18
Netherlands 2.00 Dec/18
Russia 4.30 Dec/18
Saudi Arabia 2.20 Dec/18
Singapore 0.50 Dec/18
South Africa 4.50 Dec/18
South Korea 1.30 Dec/18
Spain 1.20 Dec/18
Switzerland 0.70 Dec/18
Turkey 20.30 Dec/18
United Kingdom 2.10 Dec/18
United States 1.90 Dec/18


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