Canada’s annual inflation rate rose to 8.1% in June of 2022, the highest since January 1983 but below market expectations of 8.4%. Prices rose at a faster rate for transportation (16.8% vs 14.6% in May), as higher global demand for energy led to a surge in gasoline prices (54.6% vs 48%). The CPI also rose faster for recreation, education, and reading (6.3% vs 5.4%). In the meantime, inflation remained high for food (constant at 8.8%) and shelter (7.1% vs 7.3%), supported by continuously elevated homeowner’s replacement costs (10% vs 11.1%). Excluding gasoline, the CPI rose by 6.5% annually, picking up from a 6.3% increase in May. On a monthly basis, consumer prices rose 0.7%, below expectations of a 0.9% increase and slowing from the 1.4% jump in May. source: Statistics Canada
Inflation Rate in Canada averaged 3.12 percent from 1915 until 2022, 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 August of 2022.
Inflation Rate in Canada is expected to be 8.00 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 2.00 percent in 2023, according to our econometric models.