Canadian prices, as measured by the Consumer Price Index (CPI), rose 3.1% on a year-over-year basis in June, down from the prior two months. The downward pull of "base-year effects" are no longer influencing the year-over-year CPI values, as June 2020 prices had recovered from dips in the early months of the pandemic. On a seasonally adjusted month-over-month basis, the CPI was up just 0.1% in June. The Bank of Canada's preferred measures of core inflation (which use techniques to strip out volatile elements) rose an average of 2.3% year-over-year in June. In BC, consumer prices were up 0.5% month-over-month, and up 2.4% on a year-over-year basis in June.

While inflation is currently running higher than the Bank of Canada's 2 per cent target, many economists expect this elevated rate of price increases to be transitory as economies emerge from the pandemic and supply chains normalize. Base-year effects from falling prices during the early months of the pandemic had exaggerated year-over-year changes in CPI, but these effects have now ended, and the rate of increase in CPI is correspondingly lower. The rate of inflation as measured by CPI is very important for the Bank of Canada's monetary policy stance over the next year. If higher inflation is not transitory but instead the result of an over-stimulated economy, the central bank could act to raise interest rates sooner than expected. However, if the uptick in inflation continues to fade in the coming months, we expect the Bank will stay its current course.

For more information, please contact: Gino Pezzani.
Link: https://mailchi.mp/bcrea/canadian-inflation-june-2021

Read
Categories:   Albion, Maple Ridge Real Estate | April 2023 Newsletter | April Newsletter 2022 | Arbutus, Vancouver West Real Estate | August 2021 News | August 2022 Newsletter | August 2023 Newsletters | Bank | Blueridge NV, North Vancouver Real Estate | Brentwood Park, Burnaby North Real Estate | Brighouse South, Richmond Real Estate | Brighouse, Richmond Real Estate | British Properties, West Vancouver Real Estate | Burke Mountain, Coquitlam Real Estate | Burnaby Lake, Burnaby South Real Estate | Cambie, Vancouver West Real Estate | Canadian Employment | Canadian Inflation | Canyon Heights NV, North Vancouver Real Estate | Canyon Springs, Coquitlam Real Estate | Capitol Hill BN, Burnaby North Real Estate | Central Lonsdale, North Vancouver Real Estate | Central Park BS, Burnaby South Real Estate | Champlain Heights, Vancouver East Real Estate | Citadel PQ, Port Coquitlam Real Estate | Cloverdale BC, Cloverdale Real Estate | Coal Harbour, Vancouver West Real Estate | Collingwood VE, Vancouver East Real Estate | Coquitlam West, Coquitlam Real Estate | COVID-19 Recovery Dashboard | December 2021 Newsletter | December 2022 Newsletter | December 2023 Newsletter | Delta Manor, Ladner Real Estate | Downtown NW, New Westminster Real Estate | Downtown VW, Vancouver West Real Estate | Downtown, Vancouver West Real Estate | Dunbar, Vancouver West Real Estate | Eagle Harbour, West Vancouver Real Estate | East Burnaby, Burnaby East Real Estate | East Newton, Surrey Real Estate | East Richmond, Richmond Real Estate | Fairview VW, Vancouver West Real Estate | False Creek, Vancouver West Real Estate | February Newsletter 2022 | February Newsletter 2023 | February Newsletter 2024 | Forest Hills BN, Burnaby North Real Estate | Fraser VE, Vancouver East Real Estate | Fraserview NW, New Westminster Real Estate | Fraserview VE, Vancouver East Real Estate | GDP | Grandview VE, Vancouver East Real Estate | Grandview Woodland, Vancouver East Real Estate | Greentree Village, Burnaby South Real Estate | Hamilton RI, Richmond Real Estate | Hamilton, Richmond Real Estate | Hastings, Vancouver East Real Estate | Highgate, Burnaby South Real Estate | House Marketing | Housing Starts | Interest Rate | Ironwood, Richmond Real Estate | January Newsletter 2022 | January Newsletter 2023 | January Newsletter 2024 | July 2021 Newsletter | July 2022 Newsletter | July 2023 Newsletter | June 2022 Newsletter | June 2023 Newsletter | Killarney VE, Vancouver East Real Estate | Kitsilano, Vancouver West Real Estate | Knight, Vancouver East Real Estate | Letter From The Heart | Lions Bay, West Vancouver Real Estate | Lower Lonsdale, North Vancouver Real Estate | Maillardville, Coquitlam Real Estate | Main, Vancouver East Real Estate | March Newsletter 2022 | March Newsletter 2023 | March Newsletter 2024 | May 2022 Newsletter | May 2023 Newsletter | Meadow Brook, Coquitlam Real Estate | Metrotown, Burnaby South Real Estate | Mount Pleasant VE, Vancouver East Real Estate | Mount Pleasant VW, Vancouver West Real Estate | New Horizons, Coquitlam Real Estate | Newsletter November 2021 | North Coquitlam, Coquitlam Real Estate | North Vancouver Real Estate | November 2021 Newsletter | November 2022 Newsletter | November 2023 Newsletter | November Newsletter 2021 | October 2021 Newsletter | October 2022 Newsletter | October 2023 Newsletter | Pebble Hill, Tsawwassen Real Estate | Pictures and thoughts to share | Point Grey, Vancouver West Real Estate | Quay, New Westminster Real Estate | Queen Mary Park Surrey, Surrey Real Estate | Queensborough, New Westminster Real Estate | Quilchena, Vancouver West Real Estate | Richmond Real Estate | S.W. Marine, Vancouver West Real Estate | Sapperton, New Westminster Real Estate | September 2021 News | September 2022 Newsletter | September 2023 Newsletter | Silver Valley, Maple Ridge Real Estate | Simon Fraser Univer., Burnaby North Real Estate | Sold listings | South Granville, Vancouver West Real Estate | South Marine, Vancouver East Real Estate | South Slope, Burnaby South Real Estate | South Surrey White Rock Real Estate | Squamish Real Estate | Steveston South, Richmond Real Estate | Sullivan Heights, Burnaby North Real Estate | The Crest, Burnaby East Real Estate | Tsawwassen Central, Tsawwassen Real Estate | University VW, Vancouver West Real Estate | Upper Eagle Ridge, Coquitlam Real Estate | Uptown NW, New Westminster Real Estate | vancouver island Real Estate | Vancouver Real Estate | Victoria VE, Vancouver East Real Estate | Victoria VE, Vancouver West Real Estate | WALL CENTRE FALSE CREEK, Vancouver West Real Estate | West End VW, Vancouver West Real Estate | Westwood Plateau, Coquitlam Real Estate | Whalley, North Surrey Real Estate | Whalley, Surrey Real Estate | Willoughby Heights, Langley Real Estate | Yale - Dogwood Valley, Vancouver West Real Estate | Yaletown, Vancouver West Real Estate | Yel | Yelllow Newsletter July 2022 | Yellow Newletter December 2021 | Yellow Newletter June 2022 | Yellow Newsletter | Yellow Newsletter April 2022 | Yellow Newsletter April 2023 | Yellow Newsletter August 2021 | Yellow Newsletter August 2022 | Yellow Newsletter August 2023 | Yellow Newsletter December 2021 | Yellow Newsletter December 2022 | Yellow Newsletter December 2023 | Yellow Newsletter February 2022 | Yellow Newsletter February 2023 | Yellow Newsletter February 2024 | Yellow Newsletter January 2022 | Yellow Newsletter January 2023 | Yellow Newsletter January 2024 | Yellow Newsletter July 2022 | Yellow Newsletter July 2023 | Yellow Newsletter June 2022 | Yellow Newsletter June 2023 | Yellow Newsletter March 2022 | Yellow Newsletter March 2023 | Yellow Newsletter March 2024 | Yellow Newsletter May 2022 | Yellow Newsletter May 2023 | Yellow Newsletter November 2021 | Yellow Newsletter November 2022 | Yellow Newsletter November 2023 | Yellow Newsletter October 2021 | Yellow Newsletter October 2022 | Yellow Newsletter October 2023 | Yellow Newsletter October, 2021 | Yellow Newsletter September 2021 | Yellow Newsletter September 2022 | Yellow Newsletter September 2023
Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.