The Toronto skyline in Canada

Canada Inflation November 2023

Canada: Inflation holds stable in November

Inflation held steady at October’s 3.1% in November, the joint-weakest inflation rate since June and only marginally above the Central Bank’s 1.0%–3.0% target range. However, the reading was above market expectations of 2.9%. Looking at the details of the release, prices for food and housing increased at a more moderate pace in November. In contrast, prices for transportation contracted at a slightly softer rate compared to the previous month’s reading.

The trend pointed down, with annual average inflation coming in at 4.1% in November (October: 4.4%). Meanwhile, core inflation ticked up to 2.8% in November, from October’s 2.7%.

Finally, consumer prices increased 0.13% in November over the previous month, picking up from the 0.06% rise seen in October.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest X Download Fullscreen