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Sep 17, 2024 · The central bank began aggressively hiking interest rates in April 2022 to tame skyrocketing inflation, and it made its first rate cut since March 2020 in June.
- Canada's inflation rate jumps to new 31-year high of 6.7%
The inflation rate in Canada jumped to 6.7 per cent in...
- Canada's inflation rate jumps to new 31-year high of 6.7%
Jan 17, 2023 · The Consumer Price Index rose 6.8% on an annual average basis in 2022, following gains of 3.4% in 2021 and of 0.7% in 2020. The increase in 2022 was a 40-year high, the largest increase since 1982 (+10.9%). Excluding energy, the annual average CPI rose 5.7% in 2022 compared with 2.4% in 2021.
Canadian consumers were confronted with higher prices in 2021, including for everyday necessities, such as food (+2.5%), transportation (+7.2%) and shelter (+3.9%). The most recent monthly data shows a 12-month increase of 7% in August 2022, following a 7.6% increase in July.
Monetary policy is working to reduce price pressures in the Canadian economy. Core inflation is expected to ease gradually, while the path of CPI inflation will be bumpy. Inflation returns sustainably to the 2% target in the second half of 2025.
The Consumer Price Index (CPI) is an indicator of changes in consumer prices experienced by Canadians. It is obtained by comparing, over time, the cost of a fixed basket of goods and services purchased by consumers.
CansimV41690973V41690914V416909732024-08161.8161.42.02024-07162.1161.22.52024-06161.4160.82.72024-05161.5160.62.9Apr 20, 2022 · The inflation rate in Canada jumped to 6.7 per cent in March, hitting a 31-year high. Economists warn borrowers should expect further interest rate hikes as the Bank of Canada tries to cool...
Jan 17, 2023 · The Consumer Price Index (CPI) rose 6.3% on a year-over-year basis in December, following a 6.8% increase in November. On a seasonally adjusted monthly basis, the CPI fell 0.1% in December.
