The Biggest Decline Ever in Canadian CPI Inflation in March

The inflation report from Canada was released a while ago. As coronavirus spread in North America last month, the shut-down followed, which has been hurting the economy enormously. Last week’s unemployment claims report showed a record increase, surpassing that of the US, adjusted for the population of Canada.

Inflation was expected to turn negative in March for the first time since November last year and it did. But the decline was bigger than expected; in fact, this was the biggest decline in record, since they started in 1992. Below is the CPI report for March:

Canada March 2020 Consumer Price Index Report

• March CPI YoY +0.9% vs +1.1% expected
• February CPI stood +2.2%
• CPI  MoM -0.6% vs -0.4% expected — largest one-month decline in survey history (since 1992)
• February CPI Mom Stood at +0.4%
• March core CPI excluding energy at +1.7%

Core CPI Measures YoY

•    Median CPI YoY 2.0% vs 2.2% exp (prior 2.1%,)
•    Common CPI YoY 1.7% vs 1.8% exp (prior 1.8%)
•    Trimmed mean CPI YoY 1.8% vs 2.0% exp (prior 2.0%)

ABOUT THE AUTHOR See More

Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.

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