These constraints limited the supply of goods and services.Ĭanadian consumers were confronted with higher prices in 2021, including for everyday necessities, such as food (+2.5%), transportation (+7.2%) and shelter (+3.9%). By September 2021, employment had recovered to pre-pandemic levels, and Canadians were consuming more, especially during months when public health measures had eased.Īt the same time, the global economy grappled with significant supply chain disruptions throughout 2021, including input shortages, production bottlenecks, backlogs at key ports, higher shipping costs and delivery delays. In addition, more Canadians returned to work.
Canadians were able to go out and shop, dine and travel more than in 2020. The reopening was made possible as COVID -19 vaccines became widely available and public health restrictions began to ease. Inflationary pressures stemmed from a combination of widespread global supply chain constraints and pent-up consumer demand as the economy reopened. In 2021, the COVID -19 pandemic remained a key factor impacting the prices of goods and services purchased by Canadians.
Today, Statistics Canada released the infographic Consumer Price Index: 2021 in Review, highlighting annual average consumer price inflation in Canada and the regions in 2021 and showing the noteworthy average commodity price movements in the context of the COVID -19 pandemic. Prices for services increased 2.3% on an annual average basis in 2021, after a gain of 1.4% in 2020.Ĭheck out the 2021 annual review infographic Prices for goods were up 4.7% on an annual average basis in 2021, following a decline in 2020 ( -0.2%). Prices for both goods and services rise at faster pace Price growth among the provinces was slowest in Saskatchewan (+2.6%).Īmong the territorial capital cities, annual average prices increased at the fastest pace in Whitehorse (+3.3%), followed by Yellowknife (+2.2%), while prices rose at the slowest pace in Iqaluit (+1.4%). Higher prices in all provinces and territorial capital citiesĪnnual average prices rose at the fastest pace in Prince Edward Island (+5.1%), followed by Nova Scotia (+4.1%). Clothing and footwear prices decreased 0.3% in 2021, the lone major component to fall over the past year. Seven of eight major CPI components up in 2021Īmong the eight major components, transportation prices (+7.2%) rose at the fastest pace. This marked the fastest pace since 1991 (+5.6%).Įxcluding energy, the annual average CPI grew 2.4% in 2021, a faster pace than in 2020 (+1.3%) and a slightly faster pace than in 2019 (+2.3%). The CPI rose 3.4% on an annual average basis in 2021, following an increase of 0.7% in 2020. Highlights On an annual average basis, the CPI rises at the fastest pace since 1991
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