<?xml version="1.0" encoding="UTF-8"?>
<data>
<terms url="https://www.bankofcanada.ca/terms/"></terms>
<groupDetail>
    <label>Chart 16: CPI inflation stays near 2% over the projection horizon</label>
    <description><![CDATA[Contributions to year-over-year CPI inflation, deviation from target, quarterly data

Note: Costs includes, for example, commodity prices, import prices and shipping costs. Other includes, for example, base-year effects from the previous GST/HST holiday, movements in gasoline refinery margins and inflation not attributed to the identified components. Numbers may not sum to their respective totals due to rounding.

Sources: Statistics Canada and Bank of Canada calculations, estimates and projections]]></description>
    <link>https://www.bankofcanada.ca/?p=250907</link>
</groupDetail>
<seriesDetail>
<series id="MPR_2026M01_CPI_DEVIATION_S1">
<label>Counter-tariffs</label>
<description></description>
<dimension key="d" name="Date"/>
</series>
<series id="MPR_2026M01_CPI_DEVIATION_S2">
<label>Costs</label>
<description></description>
<dimension key="d" name="Date"/>
</series>
<series id="MPR_2026M01_CPI_DEVIATION_S3">
<label>Removal of consumer carbon tax</label>
<description></description>
<dimension key="d" name="Date"/>
</series>
<series id="MPR_2026M01_CPI_DEVIATION_S4">
<label>Output gap</label>
<description></description>
<dimension key="d" name="Date"/>
</series>
<series id="MPR_2026M01_CPI_DEVIATION_S5">
<label>Other</label>
<description></description>
<dimension key="d" name="Date"/>
</series>
<series id="MPR_2026M01_CPI_DEVIATION_S6">
<label>Total CPI inflation</label>
<description></description>
<dimension key="d" name="Date"/>
</series>
</seriesDetail>
<observations>
<o d="2024-10-01"><v s="MPR_2026M01_CPI_DEVIATION_S1">0.0</v><v s="MPR_2026M01_CPI_DEVIATION_S6">-0.1</v><v s="MPR_2026M01_CPI_DEVIATION_S5">-0.3</v><v s="MPR_2026M01_CPI_DEVIATION_S4">0.0</v><v s="MPR_2026M01_CPI_DEVIATION_S3">0.0</v><v s="MPR_2026M01_CPI_DEVIATION_S2">0.2</v></o>
<o d="2025-01-01"><v s="MPR_2026M01_CPI_DEVIATION_S1">0.0</v><v s="MPR_2026M01_CPI_DEVIATION_S6">0.3</v><v s="MPR_2026M01_CPI_DEVIATION_S5">-0.4</v><v s="MPR_2026M01_CPI_DEVIATION_S4">0.0</v><v s="MPR_2026M01_CPI_DEVIATION_S3">0.0</v><v s="MPR_2026M01_CPI_DEVIATION_S2">0.8</v></o>
<o d="2025-04-01"><v s="MPR_2026M01_CPI_DEVIATION_S5">0.1</v><v s="MPR_2026M01_CPI_DEVIATION_S4">-0.1</v><v s="MPR_2026M01_CPI_DEVIATION_S3">-0.6</v><v s="MPR_2026M01_CPI_DEVIATION_S2">0.2</v><v s="MPR_2026M01_CPI_DEVIATION_S6">-0.3</v><v s="MPR_2026M01_CPI_DEVIATION_S1">0.1</v></o>
<o d="2025-07-01"><v s="MPR_2026M01_CPI_DEVIATION_S2">0.3</v><v s="MPR_2026M01_CPI_DEVIATION_S4">-0.1</v><v s="MPR_2026M01_CPI_DEVIATION_S3">-0.6</v><v s="MPR_2026M01_CPI_DEVIATION_S5">0.2</v><v s="MPR_2026M01_CPI_DEVIATION_S6">0.0</v><v s="MPR_2026M01_CPI_DEVIATION_S1">0.3</v></o>
<o d="2025-10-01"><v s="MPR_2026M01_CPI_DEVIATION_S2">0.2</v><v s="MPR_2026M01_CPI_DEVIATION_S5">0.5</v><v s="MPR_2026M01_CPI_DEVIATION_S6">0.2</v><v s="MPR_2026M01_CPI_DEVIATION_S1">0.3</v><v s="MPR_2026M01_CPI_DEVIATION_S3">-0.6</v><v s="MPR_2026M01_CPI_DEVIATION_S4">-0.2</v></o>
<o d="2026-01-01"><v s="MPR_2026M01_CPI_DEVIATION_S3">-0.6</v><v s="MPR_2026M01_CPI_DEVIATION_S2">-0.2</v><v s="MPR_2026M01_CPI_DEVIATION_S4">-0.2</v><v s="MPR_2026M01_CPI_DEVIATION_S6">0.0</v><v s="MPR_2026M01_CPI_DEVIATION_S1">0.3</v><v s="MPR_2026M01_CPI_DEVIATION_S5">0.7</v></o>
<o d="2026-04-01"><v s="MPR_2026M01_CPI_DEVIATION_S6">0.1</v><v s="MPR_2026M01_CPI_DEVIATION_S4">-0.2</v><v s="MPR_2026M01_CPI_DEVIATION_S5">0.1</v><v s="MPR_2026M01_CPI_DEVIATION_S1">0.1</v><v s="MPR_2026M01_CPI_DEVIATION_S2">0.1</v><v s="MPR_2026M01_CPI_DEVIATION_S3">0.0</v></o>
<o d="2026-07-01"><v s="MPR_2026M01_CPI_DEVIATION_S1">0.0</v><v s="MPR_2026M01_CPI_DEVIATION_S6">0.1</v><v s="MPR_2026M01_CPI_DEVIATION_S5">0.1</v><v s="MPR_2026M01_CPI_DEVIATION_S2">0.3</v><v s="MPR_2026M01_CPI_DEVIATION_S4">-0.2</v><v s="MPR_2026M01_CPI_DEVIATION_S3">0.0</v></o>
<o d="2026-10-01"><v s="MPR_2026M01_CPI_DEVIATION_S2">0.3</v><v s="MPR_2026M01_CPI_DEVIATION_S5">-0.2</v><v s="MPR_2026M01_CPI_DEVIATION_S1">0.0</v><v s="MPR_2026M01_CPI_DEVIATION_S3">0.0</v><v s="MPR_2026M01_CPI_DEVIATION_S4">-0.2</v><v s="MPR_2026M01_CPI_DEVIATION_S6">-0.1</v></o>
<o d="2027-01-01"><v s="MPR_2026M01_CPI_DEVIATION_S5">-0.2</v><v s="MPR_2026M01_CPI_DEVIATION_S1">0.0</v><v s="MPR_2026M01_CPI_DEVIATION_S2">0.4</v><v s="MPR_2026M01_CPI_DEVIATION_S6">0.0</v><v s="MPR_2026M01_CPI_DEVIATION_S4">-0.2</v><v s="MPR_2026M01_CPI_DEVIATION_S3">0.0</v></o>
<o d="2027-04-01"><v s="MPR_2026M01_CPI_DEVIATION_S2">0.3</v><v s="MPR_2026M01_CPI_DEVIATION_S6">0.1</v><v s="MPR_2026M01_CPI_DEVIATION_S4">-0.2</v><v s="MPR_2026M01_CPI_DEVIATION_S5">-0.1</v><v s="MPR_2026M01_CPI_DEVIATION_S3">0.0</v><v s="MPR_2026M01_CPI_DEVIATION_S1">0.0</v></o>
<o d="2027-07-01"><v s="MPR_2026M01_CPI_DEVIATION_S1">0.0</v><v s="MPR_2026M01_CPI_DEVIATION_S6">0.1</v><v s="MPR_2026M01_CPI_DEVIATION_S5">0.0</v><v s="MPR_2026M01_CPI_DEVIATION_S4">-0.1</v><v s="MPR_2026M01_CPI_DEVIATION_S3">0.0</v><v s="MPR_2026M01_CPI_DEVIATION_S2">0.2</v></o>
<o d="2027-10-01"><v s="MPR_2026M01_CPI_DEVIATION_S5">0.0</v><v s="MPR_2026M01_CPI_DEVIATION_S4">-0.1</v><v s="MPR_2026M01_CPI_DEVIATION_S3">0.0</v><v s="MPR_2026M01_CPI_DEVIATION_S2">0.2</v><v s="MPR_2026M01_CPI_DEVIATION_S1">0.0</v><v s="MPR_2026M01_CPI_DEVIATION_S6">0.1</v></o>
</observations>
</data>