Inflation Rate in Canada remained unchanged at 1.70 percent in May. 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 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.

Cost of food in Canada increased 3.40 percent in May 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.

Core consumer prices in Canada increased 2.50 percent in May 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 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.

Canada Core Inflation Nowcast: sa: Contribution: Commodity Prices: Commodity Price Index: Agriculture data was reported at 0.000 % in 12 May 2025. This stayed constant from the previous number of 0.000 % for 05 May 2025. Canada Core Inflation Nowcast: sa: Contribution: Commodity Prices: Commodity Price Index: Agriculture data is updated weekly, averaging 0.023 % from Jan 2018 (Median) to 12 May 2025, with 384 observations. The data reached an all-time high of 40.205 % in 19 Mar 2018 and a record low of 0.000 % in 12 May 2025. Canada Core Inflation Nowcast: sa: Contribution: Commodity Prices: Commodity Price Index: Agriculture data remains active status in CEIC and is reported by CEIC Data. The data is categorized under Global Database’s Canada – Table CA.CEIC.NC: CEIC Nowcast: Inflation: Core.

Canada Inflation Nowcast: Contribution: Commodity Prices: Commodity Price Index: Fish data was reported at 0.000 % in 12 May 2025. This stayed constant from the previous number of 0.000 % for 05 May 2025. Canada Inflation Nowcast: Contribution: Commodity Prices: Commodity Price Index: Fish data is updated weekly, averaging 0.000 % from Jan 2019 (Median) to 12 May 2025, with 332 observations. The data reached an all-time high of 19.781 % in 11 Apr 2022 and a record low of 0.000 % in 12 May 2025. Canada Inflation Nowcast: Contribution: Commodity Prices: Commodity Price Index: Fish data remains active status in CEIC and is reported by CEIC Data. The data is categorized under Global Database’s Canada – Table CA.CEIC.NC: CEIC Nowcast: Inflation: Headline.

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.

Canada Core Inflation Nowcast: sa: Contribution: Commodity Prices: Commodity Price Index: excl Energy data was reported at 0.000 % in 12 May 2025. This stayed constant from the previous number of 0.000 % for 05 May 2025. Canada Core Inflation Nowcast: sa: Contribution: Commodity Prices: Commodity Price Index: excl Energy data is updated weekly, averaging 0.000 % from Jan 2018 (Median) to 12 May 2025, with 384 observations. The data reached an all-time high of 7.454 % in 17 Feb 2025 and a record low of 0.000 % in 12 May 2025. Canada Core Inflation Nowcast: sa: Contribution: Commodity Prices: Commodity Price Index: excl Energy data remains active status in CEIC and is reported by CEIC Data. The data is categorized under Global Database’s Canada – Table CA.CEIC.NC: CEIC Nowcast: Inflation: Core.

The Consumer Price Index in Canada increased 0.60 percent in May of 2025 over the previous month. This dataset provides - Canada Inflation Rate MoM - actual values, historical data, forecast, chart, statistics, economic calendar and news.

This table contains 13 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 is generally defined as the continued increase in the average prices of goods and services in a given region. Following the extremely high global inflation experienced in the 1980s and 1990s, global inflation has been relatively stable since the turn of the millennium, usually hovering between three and five percent per year. There was a sharp increase in 2008 due to the global financial crisis now known as the Great Recession, but inflation was fairly stable throughout the 2010s, before the current inflation crisis began in 2021. Recent years Despite the economic impact of the coronavirus pandemic, the global inflation rate fell to 3.26 percent in the pandemic's first year, before rising to 4.66 percent in 2021. This increase came as the impact of supply chain delays began to take more of an effect on consumer prices, before the Russia-Ukraine war exacerbated this further. A series of compounding issues such as rising energy and food prices, fiscal instability in the wake of the pandemic, and consumer insecurity have created a new global recession, and global inflation in 2024 is estimated to have reached 5.76 percent. This is the highest annual increase in inflation since 1996. Venezuela Venezuela is the country with the highest individual inflation rate in the world, forecast at around 200 percent in 2022. While this is figure is over 100 times larger than the global average in most years, it actually marks a decrease in Venezuela's inflation rate, which had peaked at over 65,000 percent in 2018. Between 2016 and 2021, Venezuela experienced hyperinflation due to the government's excessive spending and printing of money in an attempt to curve its already-high inflation rate, and the wave of migrants that left the country resulted in one of the largest refugee crises in recent years. In addition to its economic problems, political instability and foreign sanctions pose further long-term problems for Venezuela. While hyperinflation may be coming to an end, it remains to be seen how much of an impact this will have on the economy, how living standards will change, and how many refugees may return in the coming years.

Services Inflation in Canada decreased to 3.20 percent in May from 3.50 percent in April of 2025. This dataset includes a chart with historical data for Canada Services Inflation.

Canada Core Inflation Nowcast: sa: Contribution: Foreign Exchange Rates: Foreign Exchange Rate: Daily Average: South Korean Won data was reported at 0.436 % in 12 May 2025. This stayed constant from the previous number of 0.436 % for 05 May 2025. Canada Core Inflation Nowcast: sa: Contribution: Foreign Exchange Rates: Foreign Exchange Rate: Daily Average: South Korean Won data is updated weekly, averaging 0.034 % from Jan 2018 (Median) to 12 May 2025, with 384 observations. The data reached an all-time high of 26.288 % in 17 Feb 2025 and a record low of 0.000 % in 07 Apr 2025. Canada Core Inflation Nowcast: sa: Contribution: Foreign Exchange Rates: Foreign Exchange Rate: Daily Average: South Korean Won data remains active status in CEIC and is reported by CEIC Data. The data is categorized under Global Database’s Canada – Table CA.CEIC.NC: CEIC Nowcast: Inflation: Core.

Consumer Price Index CPI in Canada increased to 164.30 points in May from 163.40 points in April of 2025. This dataset provides the latest reported value for - Canada Consumer Price Index (CPI) - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Canada Inflation Nowcast data was reported at 2.470 % in 12 May 2025. This stayed constant from the previous number of 2.470 % for 05 May 2025. Canada Inflation Nowcast data is updated weekly, averaging 2.767 % from Jan 2019 (Median) to 12 May 2025, with 332 observations. The data reached an all-time high of 7.882 % in 08 Aug 2022 and a record low of -0.344 % in 13 Jul 2020. Canada Inflation Nowcast data remains active status in CEIC and is reported by CEIC Data. The data is categorized under Global Database’s Canada – Table CA.CEIC.NC: CEIC Nowcast: Inflation: Headline.

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.

Canada Inflation Nowcast: Contribution: Foreign Exchange Rates: Foreign Exchange Rate: Daily Average: Indian Rupee data was reported at 3.219 % in 12 May 2025. This stayed constant from the previous number of 3.219 % for 05 May 2025. Canada Inflation Nowcast: Contribution: Foreign Exchange Rates: Foreign Exchange Rate: Daily Average: Indian Rupee data is updated weekly, averaging 0.000 % from Jan 2019 (Median) to 12 May 2025, with 332 observations. The data reached an all-time high of 7.687 % in 21 Oct 2019 and a record low of 0.000 % in 14 Apr 2025. Canada Inflation Nowcast: Contribution: Foreign Exchange Rates: Foreign Exchange Rate: Daily Average: Indian Rupee data remains active status in CEIC and is reported by CEIC Data. The data is categorized under Global Database’s Canada – Table CA.CEIC.NC: CEIC Nowcast: Inflation: Headline.

Canada Inflation Nowcast: Contribution: Money Market: Canadian Overnight Repo Rate Average: CORRA data was reported at 2.854 % in 12 May 2025. This stayed constant from the previous number of 2.854 % for 05 May 2025. Canada Inflation Nowcast: Contribution: Money Market: Canadian Overnight Repo Rate Average: CORRA data is updated weekly, averaging 0.000 % from Jan 2019 (Median) to 12 May 2025, with 332 observations. The data reached an all-time high of 37.767 % in 08 Aug 2022 and a record low of 0.000 % in 14 Apr 2025. Canada Inflation Nowcast: Contribution: Money Market: Canadian Overnight Repo Rate Average: CORRA data remains active status in CEIC and is reported by CEIC Data. The data is categorized under Global Database’s Canada – Table CA.CEIC.NC: CEIC Nowcast: Inflation: Headline.

Rent Inflation in Canada decreased to 4.50 percent in May from 5.20 percent in April of 2025. This dataset includes a chart with historical data for Canada Rent Inflation.