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 June 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.

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.

*Costs include direct costs and indirect costs. Direct costs are costs that are directly related to the provision of care to the patient and include Nursing (incl. Operating Room, ICU), Diagnostic Imaging, Pharmacy and Labs. Indirect costs are overhead expense relating to the running of hospitals and include administration, finance, human resources, plant operations etc.±Lognormal(mean, median).†Chair time: Cancer Care Ontario Drug Formulary [15]; overhead costs: 2002 costs 50 inflated to 2011 using the bank of Canada inflation calculator [51].‡Patients receive platinum-based chemotherapy including cisplatin (at a dose of 100 mg/m2 as a 1-hour intravenous infusion on day 1) and an infusion of fluorouracil (at a dose of 1000 mg/m2 per day for 4 days) every 3 weeks for a maximum of 6 cycles; assuming average m2 = 1.8; cisplatin = $448/100 mg; fluorouracil = $147.73 for 100 ml (500 mg vial).∥Dosing: 400 mg/m2 initial followed by a weekly infusion of 250 mg/m2; assuming average m2 = 1.8; cetuximab = $3.24/mg;¶Infusion time: initial dose infused over 120 min; weekly maintenance dose infused over 60 min; initial dose infusion time/cycle: $103.64/h×2 h = $207.28; maintenance dose infusion time: $103.64/h×1 h = $103.64.§Pharmacy preparation time required (e.g. Physician preparation, order processing): Pharmacy preparation time = $40/h×1 h = 40.CCO = Cancer Care Ontario; LRCP = London Regional Cancer Program; PMPRB: Patented Medicines Prices Review Board; OHIP = Ontario Health Insurance Plan; OCCI: Ontario Case Costing Initiative.

Inflation Rate in Mexico decreased to 3.51 percent in July from 4.32 percent in June of 2025. This dataset provides - Mexico Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.