Canada's annual inflation rate was at 6.9% in October of 2022, remaining unchanged from the prior month and in line with market expectations, as accelerated price growth for motor fuel and mortgages offset the slower inflation for food. Consumer costs rose at a faster pace for transportation (9.5% vs 8.7% in September), amid soaring gasoline prices (17.8% vs 13.2%), as output cut announcements by OPEC supported higher prices for crude oil. Inflation was also supported by shelter costs (6.9% vs 6.8%) as the continued interest rate hikes by the Bank of Canada lifted mortgage costs by 11.4% annually, the highest since February 1991. On the other hand, price growth eased for food (10.1% vs 10.3%), due to slowed grocery costs. The core inflation rate slowed to 5.8% from 6% in the previous period. On a monthly basis, consumer prices rose by 0.7%, picking up from 0.1% in September. source: Statistics Canada

Inflation Rate in Canada averaged 3.14 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 November of 2022.

Inflation Rate in Canada is expected to be 6.40 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 2023 and 2.00 percent in 2024, according to our econometric models.

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Canada Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-10-19 12:30 PM Sep 6.9% 7% 6.8% 6.8%
2022-11-16 01:30 PM Oct 6.9% 6.9% 6.9% 7.0%
2022-12-21 01:30 PM Nov 6.9% 6.8%


Related Last Previous Unit Reference
Inflation Rate 6.90 6.90 percent Oct 2022
Inflation Rate MoM 0.70 0.10 percent Oct 2022
Consumer Price Index CPI 153.80 152.70 points Oct 2022
Core Inflation Rate 5.80 6.00 percent Oct 2022
Core Consumer Prices 149.70 149.10 points Oct 2022
GDP Deflator 130.30 126.00 points Jun 2022
Producer Prices 129.50 126.50 points Oct 2022
Producer Prices Change 10.10 9.10 percent Oct 2022
Export Prices 149.10 150.50 points Sep 2022
Import Prices 147.70 144.00 points Sep 2022
Food Inflation 10.10 10.30 percent Oct 2022
Wholesale Prices 145.60 143.80 points Oct 2022
CPI Transportation 170.10 166.50 points Oct 2022
CPI Housing Utilities 166.20 164.90 points Oct 2022

Canada Inflation Rate
In Canada, the most important categories in the CPI basket are Shelter (30 percent of the total weight) and Transportation (17 percent). Food accounts for 16 percent; Household Operations, Furnishings and Equipment for 15 percent; Recreation, Education and Reading for 9 percent; Health and Personal Care for 5 percent; Alcoholic Beverages and Tobacco Products for 5 percent and Clothing and Footwear for the remaining 4 percent. The CPI basket is reviewed every four years on the basis of household surveys. The current weights are based on spending patterns in 2002.
Actual Previous Highest Lowest Dates Unit Frequency
6.90 6.90 21.60 -17.80 1915 - 2022 percent Monthly
2002=100

News Stream
Canada Inflation Steady at 6.9%
Canada's annual inflation rate was at 6.9% in October of 2022, remaining unchanged from the prior month and in line with market expectations, as accelerated price growth for motor fuel and mortgages offset the slower inflation for food. Consumer costs rose at a faster pace for transportation (9.5% vs 8.7% in September), amid soaring gasoline prices (17.8% vs 13.2%), as output cut announcements by OPEC supported higher prices for crude oil. Inflation was also supported by shelter costs (6.9% vs 6.8%) as the continued interest rate hikes by the Bank of Canada lifted mortgage costs by 11.4% annually, the highest since February 1991. On the other hand, price growth eased for food (10.1% vs 10.3%), due to slowed grocery costs. The core inflation rate slowed to 5.8% from 6% in the previous period. On a monthly basis, consumer prices rose by 0.7%, picking up from 0.1% in September.
2022-11-16
Canadian Inflation Slows for 3rd Month
Canada’s annual inflation rate slowed to 6.9% in September of 2022 much below the 39-year peak of 8.1% hit in June but slightly above market estimates of 6.8%. Consumer prices continued to slow for transportation (8.7% vs 10.3% in August), largely due to a sustained slowdown for gasoline prices (13.2% vs 22.1%) amid an increase in the global supply of crude oil during the month. Inflation also eased for recreation, education, and reading (5.2% vs 5.7%). On the other hand, costs accelerated for food and non-alcoholic beverages (10.3% vs 9.8%), as prices for food purchased at stores rose at the fastest pace since 1981. Upward pressure on the CPI was also seen for shelter (6.8% vs 6.6%) and household operations (5.4% vs 5.1%). On a monthly basis, consumer prices edged up 0.1%, rebounding from the 0.3% drop in August.
2022-10-19
Canada Inflation Falls for 2nd Month
Canada’s annual inflation rate slowed to 7% in August of 2022, from 7.6% in July and below market estimates of 7.3%. Growth in transportation costs continued to slow sharply (10.3% vs 14.4%), amid a sharp retreat for gasoline (22.1% vs 35.6%). Prices also decelerated for shelter (6.6% vs 7%), and for recreation, education, and reading (5.7% vs 6.2%). In the meantime, costs continued to pick up for food (9.8% vs 9.2%) and household operations, furnishings, and equipment (5.1% vs 5%). Excluding gasoline, consumer prices rose by 6.3%, easing from the 6.6% in the prior month. On a monthly basis, consumer prices fell 0.3%, the first decrease since December 2021 and the steepest since the start of the pandemic in April 2020.
2022-09-20