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Canadian Inflation (Sept) - October 21, 2020

Posted by Ron Neal on Thursday, October 22nd, 2020 at 8:26am.

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May30-1
 

Canadian Inflation (Sept) - October 21, 2020

Canadian inflation, as measured by the Consumer Price Index (CPI) rose by 0.5% in September year-over-year, up from the previous month's increase of 0.1%. Excluding gasoline, the CPI rose by 1.0%. Prices rose in six of eight components year-over-year with notable increases in shelter (1.7%), food (1.6%), and health/personal care (1.6%), while prices declined for clothing/footwear (-4.1%) and recreation (-1.2%). Growth in the Bank of Canada's three measures of trend inflation was flat in September, averaging 1.7%. 

Regionally, the CPI was positive in seven provinces. In BC, CPI rose by 0.4% in September year-over-year, up from August's increase of 0.2%. Prices continued to rise for health/personal care (3.1%), shelter (1.6%), food (1.4%), and alcohol/tobacco/cannabis (1.3%). In contrast, downward price pressures were ongoing in gas (-13.4%), clothing/footwear (-3.5%), and recreation (-2.9%). 

As some provinces such as Ontario and Quebec have reinstated stricter containment measures, Canadian inflation is expected to continue to be weak. In this environment, the Bank of Canada will continue to keep interest rates low. 

Link: https://mailchi.mp/bcrea.bc.ca/canadian-inflation-sept-october-21-2020

For more information, please contact:

Brendon Ogmundson
Chief Economist
604.742.2796
bogmundson@bcrea.bc.ca 
Kellie Fong
Economist
778.357.0831
kfong@bcrea.bc.ca 

BCREA is the professional association for more than 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research, and standard forms to help REALTORS® provide value for their clients.

To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.

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The Neal Estate Team

The Neal Estate Team is your #1 source for all of your Victoria BC real estate needs. Get in touch with us online or by phone at (250) 386-8181 to speak with a Victoria real estate buying or selling expert today. With decades of experience as a top selling Victoria REALTOR® and ranked in top 1% globally with over 4,000 transactions and $1 Billion SOLD, Ron Neal & The Neal Estate Team have the industry experience and market knowledge to help you make smart and informed buying or selling decisions. 


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