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. 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 July of 2021.
Inflation Rate in Canada is expected to be 3.70 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 1.50 percent in 2022, according to our econometric models.