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'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 April 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.

Since July 2020, the inflation rate in Canada has been increasing at a steady pace. It amounted to 0.1 percent at that time, but had reached 6.9 percent by October 2022, a rise that was mainly driven by rising gas prices.
By the end of April 2023, the Consumer Price Index (CPI) of Canada, which is the official measure of inflation, had increased by 0.7 percent from the previous month.

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.

In Canada, the cost of food has increased every month from June 2022 to September 2024. In April and May 2023, the cost of food increased by 8.3 each month, compared to that month in the previous year. Inflation peaked in January 2023, but has since gown down to 2.8 percent in September 2024.

The Consumer Price Index in Canada decreased 0.10 percent in April 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: Factor Model: YoY data was reported at 2.300 % in Mar 2025. This records a decrease from the previous number of 2.500 % for Feb 2025. Canada Consumer Price Index (CPI): Core: Factor Model: YoY data is updated monthly, averaging 1.900 % from Jan 1990 (Median) to Mar 2025, with 423 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.

Canada CA: Consumer Price Index (CPI): YoY data was reported at 2.110 % in 2026. This records an increase from the previous number of 1.986 % for 2025. Canada CA: Consumer Price Index (CPI): YoY data is updated yearly, averaging 1.971 % from Dec 1993 (Median) to 2026, with 34 observations. The data reached an all-time high of 6.803 % in 2022 and a record low of 0.136 % in 1994. Canada CA: Consumer Price Index (CPI): YoY data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Canada – Table CA.OECD.EO: Consumer and Wholesale Price Index: Forecast: OECD Member: Annual. CPI_YTYPCT- Headline inflation The CPI year-on-year changes is a measure of inflation

Canada Inflation Nowcast data was reported at 2.025 % in 14 Apr 2025. This records a decrease from the previous number of 2.331 % for 07 Apr 2025. Canada Inflation Nowcast data is updated weekly, averaging 2.767 % from Jan 2019 (Median) to 14 Apr 2025, with 328 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.

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 Core Inflation Nowcast: sa data was reported at 2.826 % in 14 Apr 2025. This records an increase from the previous number of 2.704 % for 07 Apr 2025. Canada Core Inflation Nowcast: sa data is updated weekly, averaging 2.530 % from Jan 2018 (Median) to 14 Apr 2025, with 380 observations. The data reached an all-time high of 5.440 % in 08 Aug 2022 and a record low of 1.565 % in 08 Jan 2018. Canada Core Inflation Nowcast: sa 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.

Between January 2022 and May 2024, the proportion of people expressing concern about the issue of inflation in Canada rose from 30 percent to more than half of the population. On the other hand, while the rise in concern was fairly fast from January to April, between April and June, the proportion of Canadians concerned regarding inflation (48 percent) did not change. It rose again starting August 2022 and reached 54 percent in May 2024.

Canada CA: Core Inflation Index: YoY data was reported at 2.080 % in 2026. This records a decrease from the previous number of 2.145 % for 2025. Canada CA: Core Inflation Index: YoY data is updated yearly, averaging 1.593 % from Dec 1993 (Median) to 2026, with 34 observations. The data reached an all-time high of 4.979 % in 2022 and a record low of 0.067 % in 1994. Canada CA: Core Inflation Index: YoY data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Canada – Table CA.OECD.EO: Consumer and Wholesale Price Index: Forecast: OECD Member: Annual. PCORE_YTYPCT - Core inflationOECD group, all items non-food non-energy. See exceptions at the country's serie metadata; All-items excluding food and energy

Core Inflation Nowcast: sa: Contribution: Energy: BHGE: North America Rig Count: Canada data was reported at 2.196 % in 28 Apr 2025. This records an increase from the previous number of 2.128 % for 21 Apr 2025. Core Inflation Nowcast: sa: Contribution: Energy: BHGE: North America Rig Count: Canada data is updated weekly, averaging 1.175 % from Jan 2018 (Median) to 28 Apr 2025, with 382 observations. The data reached an all-time high of 49.208 % in 26 Feb 2018 and a record low of 0.009 % in 20 Jun 2022. Core Inflation Nowcast: sa: Contribution: Energy: BHGE: North America Rig Count: Canada 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.

Monthly indexes for major components and special aggregates of the Consumer Price Index (CPI), seasonally adjusted, for Canada. Data are presented for the current month and previous four months. The base year for the index is 2002=100.

In March 2022, only four percent of people surveyed in Canada by the Leger Institute considered that inflation had no impact on their household in terms of gas. Conversely, for half of Canadians, inflation had a large negative impact on their household regarding gas. 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.

Le taux d'inflation au Canada est passé à 1,90 % en janvier contre 1,80 % en décembre 2024. Les valeurs actuelles, des données historiques, des prévisions, des statistiques, des tableaux et le calendrier économique - Canada - Taux d'inflation.

Extent the business or organization considers inflation when setting wages and salaries, by North American Industry Classification System (NAICS), business employment size, type of business, business activity and majority ownership, fourth quarter of 2022.

In 2022, the world was hit with a significant spike in inflation. And perceptions about what the actual wave of inflation was, differed somewhat, depending on income. When asked about it in the fourth quarter of 2022, Canadian consumers earning less than 40,000 Canadian dollars a year, estimated the rate of inflation at roughly 8.3 percent. Those earning over 100,000 Canadian dollars annually believed the average inflation rate to have been about 7.9 percent during the previous 12 months. Perceived inflation rates as of the first quarter of 2024 have gone down for all income brackets.