The annual inflation rate in Canada rose to 1.1% in February of 2021 from 1% in January and below market expectations of 1.3%. Still, it is the steepest inflation rate in a year mainly due to higher gasoline prices (5%), which posted the first increase since February of 2020. Additional upward pressure came from costs of food (1.8%), of which food purchased from restaurants (2.9%) and food purchased from stores (1.3%); shelter (1.4%) and health and personal care (1.3%). Excluding gasoline, inflation was 1.0%, down from 1.3% in January. On a monthly basis, consumer prices were up 0.5%, following a 0.6% increase in the prior month and missing market expectations of 0.7%. 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 April of 2021.
Inflation Rate in Canada is expected to be 1.40 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 1.60 in 12 months time. In the long-term, the Canada Inflation Rate is projected to trend around 2.20 percent in 2022 and 2.00 percent in 2023, according to our econometric models.