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Economic Viewpoint

Will Quebec’s Weak Inflation Persist?

August 14, 2017
François Dupuis, Vice-President and Chief Economist • Hélène Bégin, Senior Economist

Quebec’s inflation rate has hovered around 1% for the last few years, a pace significantly below that of Ontario and Canada. Price variation excluding energy has fallen significantly in Quebec in the last two years. Several components of the consumer price index (CPI) grew less quickly than elsewhere in Canada in 2016, particularly food, shelter and electricity. Will this weak inflation rate last much longer? While a slow rise is expected in the coming quarters, consumer prices will continue to increase more slowly than in the rest of Canada this year.

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