Inflation Canada 2004
Average inflation: 1.8%
Inflation in 2004
Inflation is low at 1.8%, below the ECB target of 2%.
Peak and Trough
The highest inflation was in June at 2.5%. The lowest inflation was in February at 0.7%.
- Highest month
- June: 2.5%
- Lowest month
- February: 0.7%
- Difference
- 1.8 percentage points
- Months with data
- 12 of 12
Historical Context
Inflation is 0.6 percentage points lower than the 5-year average of 2.4%.
- 5-year average
- 2.4%
- 10-year average
- 2%
- All-time high (1991)
- 5.6%
- All-time low (1994)
- 0.2%
Trend
Over the period 2002-2004, inflation has remained relatively stable. Compared to 2003, inflation has fallen by 1.0 percentage points.
- Change vs. previous year
- -1.0 percentage points
- Largest monthly swing
- February: -4.0 percentage points
ECB Target
Inflation is close to the ECB target of 2.0%.
Purchasing Power
At this inflation rate, purchasing power gradually decreases. The impact on daily expenses is relatively limited.
What you could buy for CA$100 this year will cost approximately CA$101.80 next year at this inflation rate.
Multi-year trend
Monthly figures 2004
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2003 |
|---|---|---|
| January | 1.3% | -3.2 |
| February | 0.7% | -4.0 |
| March | 0.8% | -3.4 |
| April | 1.7% | -1.2 |
| May | 2.4% | -0.4 |
| June | 2.5% | -0.1 |
| July | 2.3% | +0.2 |
| August | 1.8% | -0.2 |
| September | 1.8% | -0.4 |
| October | 2.3% | +0.7 |
| November | 2.4% | +0.8 |
| December | 2.1% | 0.0 |
| Average | 1.8% |
Data source
Data from OECD. Last updated: 17/12/2025.