BCREA ECONOMICS NOW: Canadian Consumer Price Inflation - March 27, 2013
BCREA ECONOMICS NOW
Canadian
Consumer Price Inflation - March 27, 2013
Canadian consumer price inflation picked up
marginally in February, registering 1.2 per cent year-over following a 0.5 per
cent increase in January. The Bank of Canada's core inflation index, which
excludes the eight most volatile components of the CPI like energy and food,
rose 1.4 per cent year-over-year in February, a moderate acceleration from
January's 1 per cent increase. Inflation in BC registered only 0.9 per
cent year-over-year in February.
Subdued by sluggish growth in the Canadian economy over the past six months,
inflation continues to trend well under the Bank of Canada's two per cent
target. As economic growth improves in the latter half of 2013 and into
2014, inflation should gradually move back toward 2 per cent. Until then, we
expect that the Bank of Canada will remain on hold and that longer term
interest rates that impact mortgage pricing will hold near historic lows.
For more information, please contact:
Cameron Muir |
Brendon Ogmundson |
Chief Economist |
Economist |
Direct: 604.742.2780 |
Direct: 604.742.2796 |
Mobile: 778.229.1884 |
Mobile: 604.505.6793 |
Email: cmuir@bcrea.bc.ca |
Email: bogmundson@bcrea.bc.ca |
BCREA represents 11 member real estate boards and their approximately 18,000 REALTORS® on all provincial issues, providing an extensive communications network, standard forms, economic research and analysis, government relations, applied practice courses and continuing professional education (cpe).
Real estate boards, real estate associations and REALTORS® may reprint this content, provided that credit is given to BCREA by including the following statement: “Copyright British Columbia Real Estate Association. Reprinted with permission.” BCREA makes no guarantees as to the accuracy or completeness of this information.
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