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 May 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.

In May 2025, global inflation rates and central bank interest rates showed significant variation across major economies. Most economies initiated interest rate cuts from mid-2024 due to declining inflationary pressures. The U.S., UK, and EU central banks followed a consistent pattern of regular rate reductions throughout late 2024. In early 2025, Russia maintained the highest interest rate at 20 percent, while Japan retained the lowest at 0.5 percent. Varied inflation rates across major economies The inflation landscape varies considerably among major economies. China had the lowest inflation rate at -0.1 percent in May 2025. In contrast, Russia maintained a high inflation rate of 9.9 percent. These figures align with broader trends observed in early 2025, where China had the lowest inflation rate among major developed and emerging economies, while Russia's rate remained the highest. Central bank responses and economic indicators Central banks globally implemented aggressive rate hikes throughout 2022-23 to combat inflation. The European Central Bank exemplified this trend, raising rates from 0 percent in January 2022 to 4.5 percent by September 2023. A coordinated shift among major central banks began in mid-2024, with the ECB, Bank of England, and Federal Reserve initiating rate cuts, with forecasts suggesting further cuts through 2025 and 2026.

Inflation Rate in Mexico decreased to 4.32 percent in June from 4.42 percent in May of 2025. This dataset provides - Mexico Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

Management consultants in Canada continue to drive considerable demand from a wide range of clients, as the vital nature of their services remains a core calling card for a variety of clients. Inflation volatility in recent years, which peaked at 8.1% in 2022 per the Bank of Canada, hampered individual clients’ capability of securing long-term commitments from consultants and encouraged in-house alternatives. Despite this, the economic downturn caused some customers to invest in countercyclical services such as restructuring, cost-cutting and risk management advice. Financial managers and manufacturers were particularly demanding of consulting services, as they sought to navigate a shaky economy and craft quality plans to ensure their investments are protected. Growing adoption of ESG standards incentivized specialized consultant demand, as companies sought advisory services and guidance to ensure ESG adoption met regulatory requirements. Revenue grew an annualized 2.4% to an estimated $26.2 billion over the past five years, including an estimated 1.4% boost in 2025 alone, with profit benefiting from stabilized macroeconomic conditions. Macroeconomic conditions and technological change have been critical factors impacting consultants’ demand. Strong corporate profit growth, which rose an annualized 6.5% over the past five years, allowed clients to procure a wider range of consulting services that focused beyond traditional strategic planning and into more data-driven tasks such as economic research. The adoption of AI and new technologies emerging in the market, such as blockchain, created newfound demand niches for specialized consultants well-versed in technologies and their impact on sector-wide trends such as data processing. Major consultancies, such as Accenture Plc, have even made their own acquisition moves across the AI space to strengthen their service offering and boost client consultation quality. Moving forward, consultants are poised for steady growth over the next five years, even as wider economic conditions remain uncertain. Anticipated GDP growth will enhance clients’ investment capabilities and strengthen the need for consultants well-versed in financial markets and risk management. The growing emphasis on Environmental, Social and Governance (ESG) criteria and sustainability practises will continue to drive demand for specialized consulting expertise, as companies aim to adopt more sustainable investment strategies. Although AI adoption will continue enhancing incumbent service efficiency, it will also lead to higher in-house competition, as companies look to move away from external services in favour of cost-efficient, in-house advisory services. Revenue is expected to grow an annualized 2.1% to an estimated $29.1 billion through the end of 2030.

Canadian laboratories have performed quite poorly during the current period because of significant volatility. COVID-19 reduced corporate profit and nonresidential construction, constraining downstream demand for laboratory testing and causing revenue to plummet in 2020. Business partially bounced back amid the pandemic recovery, but revenue was partially constrained by low research and development (R&D) expenditure. Over the past few years, interest rates have soared as the Bank of Canada has sought to reduce inflation. This has caused consumer confidence and corporate profit to plunge, causing revenue to turn south again and constraining profit for providers. Increased regulation across several downstream markets has driven laboratory testing demand despite these challenges. For instance, greater environmental concerns have led to more comprehensive air quality standards. Volatile oil prices have fostered major shifts in revenue during the current period. Energy testing, which represents the second-largest revenue segment and encompasses gas analysis and oil sand solutions, initially declined because of decreased exploration and investment resulting from low oil prices during COVID-19. Improving energy prices and the broader economic recovery helped raise demand from this sector, benefiting relevant players. Overall, revenue for laboratory testing companies in Canada is expected to plunge at a CAGR of 3.2% during the current period, reaching $CA2.3 billion in 2024. This includes a 3.5% increase in revenue in that year. Economic growth will bolster Canadian laboratory testing performance during the outlook period. The steady expansion of Canada’s GDP will stimulate the development of new products and their associated laboratory testing needs to ensure safety and quality. Concerns regarding health and safety will remain important to consumers, fuelling the need for more comprehensive regulation, particularly in the oil and gas industry. Overall, revenue for laboratory testing companies in Canada is forecast to expand at a CAGR of 2.4% during the outlook period, reaching $CA2.6 billion in 2029.

At the end of 2023, Zimbabwe had the highest inflation rate in the world, at 667.36 percent change compared to the previous year. Inflation in industrialized and in emerging countries Higher inflation rates are more present in less developed economies, as they often lack a sufficient central banking system, which in turn results in the manipulation of currency to achieve short term economic goals. Thus, interest rates increase while the general economic situation remains constant. In more developed economies and in the prime emerging markets, the inflation rate does not fluctuate as sporadically. Additionally, the majority of countries that maintained the lowest inflation rate compared to previous years are primarily oil producers or small island independent states. These countries experienced deflation, which occurs when the inflation rate falls below zero; this may happen for a variety of factors, such as a shift in supply or demand of goods and services, or an outflow of capital.

Nonresidential construction plunged amid the outbreak of the pandemic because business closures constrained corporate profit, reducing expenditures on construction equipment. Demand from residential markets remained strong because low interest rates and high per capita disposable income enabled consumers to buy and renovate homes. The Bank of Canada has raised interest rates to combat high inflation. The elevated cost of borrowing has made it more difficult for households to purchase new homes or engage in improvements to their residences, reducing spending on equipment for residential construction products. Still, multifamily construction continuing to expand offset declines in single-family construction activity. Also, nonresidential construction ramped up despite rate hikes, boosting the need for construction equipment. Overall, industry revenue has been increasing at a CAGR of 4.0% over the past five years to total an estimated $27.7 billion in 2024, including an estimated 0.6% drop in 2024. High steel prices have contributed to price-based gains for wholesalers. Manufacturers have had to charge higher prices to wholesalers because of higher steel prices. In response, wholesalers have passed these costs onto consumers, preventing profit declines. Mining companies' equipment expenditures have increased because higher commodity prices incentivized them to boost production. Wholesalers have endured declines from loggers amid sluggish single-family residential construction and the decline of paper publishers. Wholesalers will continue to enjoy growth but at a slower rate. Steel prices will weaken as markets adjust to supply chain disruptions, reducing the revenue wholesalers receive from passing on elevated costs to their buyers. Continued interest rate cuts will boost construction activity and the need for equipment. Rising residential construction will boost logging activity, but this market will continue to contract. Industry revenue is forecast to expand at a CAGR of 2.0% to total an estimated $30.5 through the end of 2029.

Unemployment Rate in Canada decreased to 6.90 percent in June from 7 percent in May of 2025. This dataset provides - Canada Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

View data of the frequency at which one unit of currency purchases domestically produced goods and services within a given time period.