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.

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.

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.

From January 2022 to January 2025, the consumer price index (CPI) of food purchased from the store generally increased monthly in every province. In Prince Edward Island, the CPI reached ***** by January 2025, making it the highest CPI in Canada in that month.

Inflation Rate in Canada decreased to 2.20 percent in October from 2.40 percent in September 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 April 2025, inflation decreased to *** percent. 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 further cuts, standing at * percent in March 2025 and **** percent in September 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.

Consumer Price Index, monthly, not seasonally adjusted (1 2 3) Frequency: Monthly Table: 18-10-0004-01 (formerly CANSIM 326-0020) Release date: 2022-09-20 Geography: Canada, Province or territory, Census subdivision, Census metropolitan area, Census metropolitan area part

Footnotes: 1. The Consumer Price Index (CPI) is not a cost-of-living index. The objective behind a cost-of-living index is to measure changes in expenditures necessary for consumers to maintain a constant standard of living. The idea is that consumers would normally switch between products as the price relationship of goods changes. If, for example, consumers get the same satisfaction from drinking tea as they do from coffee, then it is possible to substitute tea for coffee if the price of tea falls relative to the price of coffee. The cheaper of the interchangeable products may be chosen. We could compute a cost-of-living index for an individual if we had complete information about that person's taste and spending habits. To do this for a large number of people, let alone the total population of Canada, is impossible. For this reason, regularly published price indexes are based on the fixed-basket concept rather than the cost-of-living concept. 2. This table replaces table 18-10-0008-01 which was archived with the release of April 2007 data. 3. From April 2020 to November 2021, and from January 2022 to February 2022, certain sub-indexes and components thereof were imputed using special approaches in either one, or more months. The affected indexes include child care services; housekeeping services; air transportation; personal care services; recreational services; travel tours; spectator entertainment; use of recreational facilities and services; beer served in licensed establishments; wine served in licensed establishments, and liquor served in licensed establishments. The details of these treatments from April 2020 to March 2021 are provided in technical supplements available through the Prices Analytical Series. Starting in April 2021 4. The goods and services that make up the Consumer Price Index (CPI) are organized according to a hierarchical structure with the all-items CPI" as the top level. Eight major components of goods and services make up the "all-items CPI". They are: "food” 5. Food includes non-alcoholic beverages. 6. Part of the increase first recorded in the shelter index for Yellowknife for December 2004 inadvertently reflected rent increases that actually occurred earlier. As a result, the change in the shelter index was overstated in December 2004, and was understated in the previous two years. The shelter index series for Yellowknife has been corrected from December 2002. In addition, the Yellowknife All-items Consumer Price Index (CPI) and some Yellowknife special aggregate index series have also changed. Data for Canada and all other provinces and territories were not affected. 7. The special aggregate energy" includes: "electricity” 8. Goods are physical or tangible commodities usually classified according to their life span into non-durable goods, semi-durable goods and durable goods. Non-durable goods are those goods that can be used up entirely in less than a year, assuming normal usage. For example, fresh food products, disposable cameras and gasoline are non-durable goods. Semi-durable goods are those goods that may last less than 12 months or greater than 12 months depending on the purpose to which they are put. For example, clothing, footwear and household textiles are semi-durable goods. Durable goods are those goods which may be used repeatedly or continuously over more than a year, assuming normal usage. For example, cars, audio and video equipment and furniture are durable goods. 9. A service in the Consumer Price Index (CPI) is characterized by valuable work performed by an individual or organization on behalf of a consumer, for example, car tune-ups, haircuts and city public transportation. Transactions classified as a service may include the cost of goods by their nature. Examples include food in restaurant food services and materials in clothing repair services.

How to cite: Statistics Canada Table 18-10-0004-01 Consumer Price Index, monthly, not seasonally adjusted https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000401

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.

View monthly updates and historical trends for Canada Inflation Rate. Source: Statistics Canada. Track economic data with YCharts analytics.

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.

By June 2023, the Consumer Price Index had reached 160.5 in the province of Saskatchewan 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.

When interviewed in February 2022, more than half of Canadians (** percent) reported being unable to cope with the cost of living. This proportion was highest among people living in the provinces of Alberta, Saskatchewan and the Atlantic Provinces (** percent). In contrast, only *** people out of five in Quebec reported such difficulties. In March 2022, inflation was an issue for most Canadian households.

In June 2023, the Consumer Price Index had reached 154.1 in the province of Quebec in Canada. This represented an increase of more than 21 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.

As of June 2023, the Consumer Price Index had reached 159.4 in the province of Nova Scotia in Canada. This represented an increase of more than 21 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.

As of June 2023, the Consumer Price Index had reached 157.6 in the province of New Brunswick in Canada. This represented an increase of 21 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.

In February 2022, more than half of Canadians (** percent) reported being challenged by the cost of living. These difficulties were more prevalent among Canadians with the lowest incomes: ************** of those earning less than ****** Canadian dollars per year reported such difficulties, as did ** percent of those earning between ****** and ******. In addition, just over ********* of those earning more than ******* Canadian dollars a year said they were having difficulty coping with the cost of living.

By June 2023, the Consumer Price Index had reached 158.5 in the province of Manitoba in Canada. This represented an increase of more than 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.

When consumers in Canada indicated they changed online payment methods in 2022 due to growing cost of living, most said they increasingly used credit cards. This according to a survey held in ** different countries across North America, Europe, and Latin America, and purely asked on whether cost of living had changed payment behavior in those countries. BNPL, and crypto were all used more often, but neither saw the largest growth: ** percent of respondents who changed their payment habits because of the rising cost of living in 2022 are paying online with credit cards more often than they did in the previous year. The source adds this is different from other countries.

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.

Inflation has increased over the past few months in Canada, and many citizens have taken action as a response. The two most common actions taken were reducing food waste to make money go further, and buying less expensive items at the grocery store, which were adopted by ** and ** percent of Canadians surveyed, respectively. At the end of 2021, the cost of living and inflation were the first things Canadians mentioned when asked what the next government's priority should be.