The annual inflation rate in Canada rose to 2.2% in March of 2021 from 1.1% in February and slightly below market expectations of 2.3%. Still, it was the highest inflation rate since February of 2020, mainly attributable to a base-year effect caused by last year's very low index level amid the Covid-19 pandemic. Meantime, prices advanced faster primarily for transportation (7.1% vs 2.2% in February), of which gasoline (35.3% vs 5%), due to a base-year effect alongside growing global oil demand, as well as the continuation of production cuts by the OPEC. Upward pressure came also from costs of shelter (2.4% vs 1.4%), linked to higher homeowners' replacement costs. Excluding energy, inflation was 1.1%, slightly up from 1% in February. On a monthly basis, consumer prices increased 0.5%, the same pace as in the prior month and slightly below market consensus of a 0.6% 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 May of 2021.
Inflation Rate in Canada is expected to be 2.10 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.