This table contains 11 series, with data from 1949 (not all combinations necessarily have data for all years). Data are presented for the current month and previous four months. Users can select other time periods that are of interest to them.

Inflation Rate in Canada increased to 2.60 percent in February from 1.90 percent in January 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 8.1 percent in June 2022 before steadily declining to 1.9 percent by January 2025. 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 5.25 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 3.5 percent in December 2024. 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 9.1 percent in June 2022, slightly higher than Canada's peak. The Federal Reserve responded with a series of rate hikes, reaching 5.33 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 5.25 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.

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.

The statistic shows the average inflation rate in Canada from 1987 to 2023, with projections up until 2029. 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.

Bank of Canada: Inflation Target data was reported at 2.000 % in 2026. This stayed constant from the previous number of 2.000 % for 2025. Bank of Canada: Inflation Target data is updated yearly, averaging 2.000 % from Dec 1992 (Median) to 2026, with 35 observations. The data reached an all-time high of 3.000 % in 1993 and a record low of 2.000 % in 2026. Bank of Canada: Inflation Target data remains active status in CEIC and is reported by Bank of Canada. The data is categorized under Global Database’s Canada – Table CA.I001: Inflation Target.

Cost of food in Canada increased 1.30 percent in February 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.

Bank of Canada: Inflation Target: Lower Limit data was reported at 1.000 % in 2026. This stayed constant from the previous number of 1.000 % for 2025. Bank of Canada: Inflation Target: Lower Limit data is updated yearly, averaging 1.000 % from Dec 1992 (Median) to 2026, with 35 observations. The data reached an all-time high of 2.000 % in 1993 and a record low of 1.000 % in 2026. Bank of Canada: Inflation Target: Lower Limit data remains active status in CEIC and is reported by Bank of Canada. The data is categorized under Global Database’s Canada – Table CA.I001: Inflation Target.

In January 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 21 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 0.5 percent in January 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.

Graph and download economic data for Inflation, consumer prices for Canada (FPCPITOTLZGCAN) from 1960 to 2023 about Canada, consumer, CPI, inflation, price index, indexes, and price.

Core consumer prices in Canada increased 2.70 percent in February of 2025 over the same month in the previous year. This dataset provides - Canada Core Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Consumer Price Index in Canada increased 1.10 percent in February of 2025 over the previous month. This dataset provides - Canada Inflation Rate MoM - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Canada Consumer Price Index (CPI): Core: Weighted Median: sa: YoY data was reported at 2.900 % in Feb 2025. This records an increase from the previous number of 2.700 % for Jan 2025. Canada Consumer Price Index (CPI): Core: Weighted Median: sa: YoY data is updated monthly, averaging 1.900 % from Jan 1990 (Median) to Feb 2025, with 422 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.

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.

Monthly indexes for major 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 current month and previous four months. The base year for the index is 2002=100.

We present a new, publicly available database of real-time data and forecasts from the Bank of Canada's staff economic projections, which will be updated on an annual basis. We describe the data construct, its variables, coverage, and frequency. We then provide a forecast evaluation for gross domestic product (GDP) growth, consumer price index (CPI) inflation and the policy rate since 1982: We compare the staff's forecasts with those from commonly used time series models estimated with the real-time data, and with forecasts from other professional forecasters, and provide standard bias tests. Finally, we study changes in predictability of the Canadian economy following the announcement of the inflation-targeting regime in 1991. Our data set is unprecedented outside the USA, and our evidence is particularly interesting, as it covers over 30 years of staff forecasts, two severe recessions, and different monetary policy regimes.

Canada Consumer Price Index (CPI): Core: Factor Model: YoY data was reported at 2.200 % in Jan 2025. This records an increase from the previous number of 2.000 % for Dec 2024. Canada Consumer Price Index (CPI): Core: Factor Model: YoY data is updated monthly, averaging 1.900 % from Jan 1990 (Median) to Jan 2025, with 421 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.

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 BOS: Inflation Expectations: 3% data was reported at 51.000 % in Dec 2024. This records a decrease from the previous number of 62.000 % for Sep 2024. Canada BOS: Inflation Expectations: 3% data is updated quarterly, averaging 42.000 % from Jun 2001 (Median) to Dec 2024, with 95 observations. The data reached an all-time high of 69.000 % in Jun 2007 and a record low of 11.000 % in Jun 2022. Canada BOS: Inflation Expectations: 3% data remains active status in CEIC and is reported by Bank of Canada. The data is categorized under Global Database’s Canada – Table CA.S004: Business Outlook Survey. Business Outlook Survey Questionnaire: Inflation Expectations - Over the next two years, what do you expect the annual rate of inflation to be, based on the consumer price index? [COVID-19-IMPACT]

Graph and download economic data for Producer Price Index by Industry: Corrugated and Solid Fiber Box Manufacturing: Corrugated Shipping Containers for Metal and Electrical Machinery (PCU32221132221103) from Jun 2002 to Feb 2025 about fiber, paper, machinery, metals, manufacturing, PPI, industry, inflation, price index, indexes, price, and USA.