![Canadian Inflation - November 2020 Canadian Inflation - November 2020](https://s.realtyninja.com/static/media/med/7650_9615b019_Vancouver_Real_Estate_Inflation.png?width=400&dpr=2)
Regionally, the CPI was positive in eight provinces. In BC, CPI rose by 1.1% in November year-over-year, up from October's increase of 0.5%. Strong price growth continued for health and personal care (3.3%) and shelter (2.4%). In contrast, gas prices continue to be a drag on BC's inflation (-12.3%).
Costs for shelter continue to increase, as rental rates rise and record-low interest rates put downward pressure on mortgage costs, making single-family homes more attractive to households demanding more space. As containment measures expand in many provinces, consumers are spending more on furniture and household appliances, which remain above pre-pandemic levels. Canadian inflation is expected to remain subdued in the near future. In this environment, the Bank of Canada will continue to keep interest rates low.
![12 month change in consumer CPI 12 month change in consumer CPI](https://s.realtyninja.com/static/media/med/7650_2a2cba37_12_month_change_in_consumer_CPI.png)
![Change in CPI componants Change in CPI componants](https://s.realtyninja.com/static/media/med/7650_425b99be_Change_in_CPI_Componants.png)
Source - BCREA