The statistic shows the average inflation rate in Canada from 1987 to 2024, with projections up until 2030. The inflation rate is calculated using the price increase of a defined product basket. This product basket contains products and services, on which the average consumer spends money throughout the year. They include expenses for groceries, clothes, rent, power, telecommunications, recreational activities and raw materials (e.g. gas, oil), as well as federal fees and taxes. In 2022, the average inflation rate in Canada was approximately 6.8 percent compared to the previous year. For comparison, inflation in India amounted to 5.56 percent that same year. Inflation in Canada In general, the inflation rate in Canada follows a global trend of decreasing inflation rates since 2011, with the lowest slump expected to occur during 2015, but forecasts show an increase over the following few years. Additionally, Canada's inflation rate is in quite good shape compared to the rest of the world. While oil and gas prices have dropped in Canada much like they have around the world, food and housing prices in Canada have been increasing. This has helped to offset some of the impact of dropping oil and gas prices and the effect this has had on Canada´s inflation rate. The annual consumer price index of food and non-alcoholic beverages in Canada has been steadily increasing over the last decade. The same is true for housing and other price indexes for the country. In general there is some confidence that the inflation rate will not stay this low for long, it is expected to return to a comfortable 2 percent by 2017 if estimates are correct.

Inflation Rate in Canada decreased to 1.70 percent in July from 1.90 percent in June of 2025. This dataset provides - Canada Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Canada's inflation rate experienced significant fluctuations from 2018 to 2025. Inflation peaked at *** percent in June 2022 before steadily declining to *** percent by December 2024. In early 2025, inflation began to increase again, rising to *** percent in February, and dropping to *** percent in March. In response to rising inflation between 2020 and 2022, the Bank of Canada implemented aggressive interest rate hikes. The bank rate reached a maximum of **** percent in July 2023 and remained stable until June 2024. As inflationary pressures eased in the second half of 2024, the central bank reduced interest rates to *** percent in December 2024. In 2025, the bank rate witnessed two cuts, standing at ***** percent in June 2025. This pattern reflected broader global economic trends, with most advanced and emerging economies experiencing similar inflationary challenges and monetary policy adjustments. Global context of inflation and interest rates The Canadian experience aligns with the broader international trend of central banks raising policy rates to combat inflation. Between 2021 and 2023, nearly all advanced and emerging economies increased their central bank rates. However, a shift occurred in the latter half of 2024, with many countries, including Canada, beginning to lower rates. This change suggests a new phase in the global economic cycle and monetary policy approach. Notably, among surveyed countries, Russia maintained the highest interest rate in early 2025, while Japan had the lowest rate. Comparison with the United States The United States experienced a similar trajectory in inflation and interest rates. U.S. inflation peaked at *** percent in June 2022, slightly higher than Canada's peak. The Federal Reserve responded with a series of rate hikes, reaching **** percent in August 2023. This rate remained unchanged until September 2024, when the first cut since September 2021 was implemented. In contrast, Canada's bank rate peaked at **** percent and began decreasing earlier, with cuts in June and July 2024. These differences highlight the nuanced approaches of central banks in managing their respective economies amid global inflationary pressures.

Since July 2020, the inflation rate in Canada has been increasing at a steady pace. It amounted to *** percent at that time, but had reached *** percent by October 2022, a rise that was mainly driven by rising gas prices. By the end of April 2023, the Consumer Price Index (CPI) of Canada, which is the official measure of inflation, had increased by *** percent from the previous month.

Annual indexes for major components and special aggregates of the Consumer Price Index (CPI), for Canada, provinces, Whitehorse, Yellowknife and Iqaluit. Data are presented for the last five years. The base year for the index is 2002=100.

Cost of food in Canada increased 3.30 percent in July of 2025 over the same month in the previous year. This dataset provides the latest reported value for - Canada Food Inflation - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In Canada, the cost of food has increased every month from June 2022 to September 2024. In April and May 2023, the cost of food increased by *** each month, compared to that month in the previous year. Inflation peaked in January 2023, but has since gown down to *** percent in September 2024.

Historical (real-time) releases of the measures of core inflation, with data from 1989 (not all combinations necessarily have data for all years). Data are presented for the current release and previous four releases. Users can select other releases that are of interest to them.

Monthly indexes and percentage changes for all components and special aggregates of the Consumer Price Index (CPI), not seasonally adjusted, for Canada, provinces, Whitehorse, Yellowknife and Iqaluit. Data are presented for the corresponding month of the previous year, the previous month and the current month. The base year for the index is 2002=100.

In 2022, a spike of inflation had been recorded worldwide due to several causes, including the coronavirus (COVID-19) pandemic and the Russia-Ukraine war. When asked about it, in both the third and ****** quarters of 2022, consumers in Canada believed the inflation rate averaged roughly ***** percent over the past 12 months. In early 2024, Canadians' idea of what the rate of inflation had been over the last 12 months was closer to **** percent.

In 2022, the world was hit with a significant spike in inflation. And perceptions about what the actual wave of inflation was, differed somewhat, depending on income. When asked about it in the fourth quarter of 2022, Canadian consumers earning less than 40,000 Canadian dollars a year, estimated the rate of inflation at roughly 8.3 percent. Those earning over 100,000 Canadian dollars annually believed the average inflation rate to have been about 7.9 percent during the previous 12 months. Perceived inflation rates as of the first quarter of 2024 have gone down for all income brackets.

The Consumer Price Index in Canada increased 0.30 percent in July of 2025 over the previous month. This dataset provides - Canada Inflation Rate MoM - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Aktuelle værdier, historiske data, prognoser, statistik, diagrammer og økonomisk kalender - Canada - Inflation-Rate. 1915-2022 Data | 2023-2024 Prognose.

Canada Consumer Price Index (CPI): Core: Factor Model: YoY data was reported at 2.300 % in Mar 2025. This records a decrease from the previous number of 2.500 % for Feb 2025. Canada Consumer Price Index (CPI): Core: Factor Model: YoY data is updated monthly, averaging 1.900 % from Jan 1990 (Median) to Mar 2025, with 423 observations. The data reached an all-time high of 6.200 % in Nov 2022 and a record low of 0.600 % in Oct 1994. Canada Consumer Price Index (CPI): Core: Factor Model: YoY data remains active status in CEIC and is reported by Bank of Canada. The data is categorized under Global Database’s Canada – Table CA.I009: Core Inflation Index.

Graph and download economic data for Consumer Price Index: OECD Groups: All Items Non-Food Non-Energy: Total for Canada (CPGRLE01CAA657N) from 1962 to 2022 about core, Canada, all items, CPI, inflation, price index, indexes, and price.

Canada CA: NAIRU: Equilibrium Unemployment Rate data was reported at 6.243 % in 2022. This records a decrease from the previous number of 6.251 % for 2021. Canada CA: NAIRU: Equilibrium Unemployment Rate data is updated yearly, averaging 7.065 % from Dec 1985 (Median) to 2022, with 38 observations. The data reached an all-time high of 8.006 % in 1993 and a record low of 6.243 % in 2022. Canada CA: NAIRU: Equilibrium Unemployment Rate data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Canada – Table CA.OECD.EO: Non-Accelerating Inflation Rate of Unemployment (NAIRU): Forecast: OECD Member: Annual. NAIRU - Equilibrium unemployment rate The equilibrium unemployment rate (code NAIRU) is estimated using a Kalman filter in a Phillips curve framework which assumes inflation expectations are anchored at the central bank’s inflation target . The NAIRU is then projected forward from the last estimated period using a simple autoregressive rule, exceptionally modified to account for recent labour market reforms, until the end of the forecasting horizon More details on methodology in Rusticelli E., Turner D. and M. C. Cavalleri (2015), Incorporating anchored inflation expectations in the Phillips Curve and in the derivation of OECD measures of equilibrium unemployment, OECD Economics Department Working Papers No.1231 OECD, Economics Department Working Papers: Incorporating anchored inflation expectations in the Phillips Curve and in the derivation of OECD measures of equilibrium unemployment:https://www.oecd-ilibrary.org/economics/incorporating-anchored-inflation-expectations-in-the-phillips-curve-and-in-the-derivation-of-oecd-measures-of-equilibrium-unemployment_5js1gmq551wd-en

Canada Consumer Price Index (CPI): Core: Weighted Median: sa: YoY data was reported at 2.900 % in Mar 2025. This stayed constant from the previous number of 2.900 % for Feb 2025. Canada Consumer Price Index (CPI): Core: Weighted Median: sa: YoY data is updated monthly, averaging 1.900 % from Jan 1990 (Median) to Mar 2025, with 423 observations. The data reached an all-time high of 5.200 % in Nov 2022 and a record low of 0.900 % in Dec 1997. Canada Consumer Price Index (CPI): Core: Weighted Median: sa: YoY data remains active status in CEIC and is reported by Bank of Canada. The data is categorized under Global Database’s Canada – Table CA.I009: Core Inflation Index.

By June 2023, the Consumer Price Index had reached ***** in Canada. This represented an increase of ** points compared to June 2020. The Consumer Price Index (CPI) is an instrument for measuring inflation. It estimates the average change in the prices of products consumed by households between two given periods and is based on the observation of a fixed basket of goods and services. In 2022, the average inflation rate in Canada was approximately *** percent compared to the previous year.

Monthly indexes and percentage changes for selected sub-groups of the food component of the Consumer Price Index (CPI), not seasonally adjusted, for Canada, provinces, Whitehorse and Yellowknife. Data are presented for the corresponding month of the previous year, the previous month and the current month. The base year for the index is 2002=100.

Canada Consumer Price Index (CPI): Core: Trimmed Mean: sa: YoY data was reported at 2.800 % in Mar 2025. This records a decrease from the previous number of 2.900 % for Feb 2025. Canada Consumer Price Index (CPI): Core: Trimmed Mean: sa: YoY data is updated monthly, averaging 1.800 % from Jan 1990 (Median) to Mar 2025, with 423 observations. The data reached an all-time high of 5.700 % in Jun 2022 and a record low of 0.800 % in Dec 1997. Canada Consumer Price Index (CPI): Core: Trimmed Mean: sa: YoY data remains active status in CEIC and is reported by Bank of Canada. The data is categorized under Global Database’s Canada – Table CA.I009: Core Inflation Index.