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.

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.

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.

Monthly indexes and percentage changes 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 corresponding month of the previous year, the previous month and the current month. The base year for the index is 2002=100.

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.

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.

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.

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.

In June 2023, the Consumer Price Index had reached 158.4 in the province of Ontario in Canada. This represented an increase of almost 20 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 6.8 percent compared to the previous year.

The consumer price index of food in Canada has generally increased since 2000. The base year 2002 equals 100 and after that year, the price index stayed over 100 and increased each year until ultimately reaching a high of 190.5 in July 2024. Since then, the index has slightly decreased but reached 190.5 again in October 2024.

Inflation, monthly percent change in the CPI in Canada, February, 2025 The most recent value is 1.05 percent as of February 2025, an increase compared to the previous value of 0.06 percent. Historically, the average for Canada from February 1960 to February 2025 is 0.3 percent. The minimum of -1.04 percent was recorded in November 2008, while the maximum of 2.63 percent was reached in February 1991. | TheGlobalEconomy.com

Canada Consumer Price Index (CPI): Health & Personal Care data was reported at 151.900 2002=100 in Feb 2025. This records an increase from the previous number of 151.100 2002=100 for Jan 2025. Canada Consumer Price Index (CPI): Health & Personal Care data is updated monthly, averaging 67.650 2002=100 from Jan 1949 (Median) to Feb 2025, with 914 observations. The data reached an all-time high of 151.900 2002=100 in Feb 2025 and a record low of 10.100 2002=100 in Feb 1949. Canada Consumer Price Index (CPI): Health & Personal Care data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.I002: Consumer Price Index: 2002=100.

Between 2022 and 2024, the construction price of residential and non-residential buildings in Canada has grown at the same pace. The price of both types of buildings was roughly six percent higher in the last quarter of 2024 than in 2023, which is the year when the index base was set at 100. Nevertheless, that only considers the cost of buildings in 15 selected metropolitan areas in Canada. Toronto was by far the metropolitan region with the highest construction costs in Canada.

What determines construction costs? The growth rate of the construction price of different types of buildings tends to follow similar trends to some extent. For example, price growth rates in Canada for most types of buildings were more moderate in 2023 than in previous years. However, those figures show a lot of disparity, with the cost of building a high rise apartment building growing much faster than that of other types of buildings. This might be because the construction costs depend on elements such as the location, materials, and complexity of the building, which tend to be quite different for each type of building.

Lumber building materials in Canada In 2023, Canada was the world’s second-largest exporter of wood building materials such as veneer sheets, parquet flooring, particleboard, laminated wood, and builders’ joinery and carpentry. Forestry, logging, and processing wood into ready-to-use materials are important industries in the Canadian economy. High price growth rates of building materials impact negatively the construction industry as their activities become more expensive. However, the forestry and logging industry benefited from the cost of lumber rising in 2020 and 2021. In the past years, the price of lumber, however, has fallen again.

By June 2023, the Consumer Price Index had reached 164.4 in the province of Alberta in Canada. This represented an increase of more than 19 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 6.8 percent compared to the previous year.

Producer Price Inflation MoM in Canada decreased to 0.40 percent in February from 1.60 percent in January of 2025. This dataset includes a chart with historical data for Canada Producer Price Inflation MoM.

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.

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.

Consumer Price Index CPI in Canada increased to 161.30 points in January from 161.20 points in December of 2024. 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.

Rent Inflation in Canada decreased to 5.80 percent in February from 6.30 percent in January of 2025. This dataset includes a chart with historical data for Canada Rent Inflation.

Infrastructure construction price index (ICPI). Annual data are available from 2010. The table presents data for the most recent reference period and the last four periods. The base period for the index is (2010=100).