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.

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.

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.

Historical chart and dataset showing Canada inflation rate by year from 1960 to 2024.

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 *** 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.

Consumer Price Index: All Items excl Gasoline data was reported at 161.300 2002=100 in Mar 2025. This records an increase from the previous number of 160.700 2002=100 for Feb 2025. Consumer Price Index: All Items excl Gasoline data is updated monthly, averaging 117.900 2002=100 from Jan 1998 (Median) to Mar 2025, with 327 observations. The data reached an all-time high of 161.300 2002=100 in Mar 2025 and a record low of 91.400 2002=100 in Jan 1998. Consumer Price Index: All Items excl Gasoline data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.I009: Core Inflation Index.

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.

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.

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.

Graph and download economic data for Consumer Price Index: OECD Groups: Goods: Total for Canada (CANCPGRGO01GPQ) from Q2 1961 to Q3 2023 about Canada, CPI, price index, indexes, and price.

Canada Consumer Price Index (CPI): All Items excl Food data was reported at 158.000 2002=100 in Mar 2025. This records an increase from the previous number of 157.900 2002=100 for Feb 2025. Canada Consumer Price Index (CPI): All Items excl Food data is updated monthly, averaging 66.300 2002=100 from Jan 1949 (Median) to Mar 2025, with 915 observations. The data reached an all-time high of 158.000 2002=100 in Mar 2025 and a record low of 12.500 2002=100 in Sep 1949. Canada Consumer Price Index (CPI): All Items excl Food data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.I009: Core Inflation Index.

Canada Consumer Price Index (CPI): sa: All Items excl Food & Energy data was reported at 153.700 2002=100 in Mar 2025. This records a decrease from the previous number of 153.800 2002=100 for Feb 2025. Canada Consumer Price Index (CPI): sa: All Items excl Food & Energy data is updated monthly, averaging 110.400 2002=100 from Jan 1992 (Median) to Mar 2025, with 399 observations. The data reached an all-time high of 153.800 2002=100 in Feb 2025 and a record low of 84.200 2002=100 in Jan 1992. Canada Consumer Price Index (CPI): sa: All Items excl Food & Energy data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.I009: Core Inflation Index.

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.

Graph and download economic data for Inflation, consumer prices for Canada (FPCPITOTLZGCAN) from 1960 to 2024 about Canada, consumer, CPI, inflation, price index, indexes, and price.

Canada Consumer Price Index (CPI): All Items excl Food & Energy data was reported at 153.700 2002=100 in Mar 2025. This records an increase from the previous number of 153.400 2002=100 for Feb 2025. Canada Consumer Price Index (CPI): All Items excl Food & Energy data is updated monthly, averaging 86.300 2002=100 from Jan 1961 (Median) to Mar 2025, with 771 observations. The data reached an all-time high of 153.700 2002=100 in Mar 2025 and a record low of 17.200 2002=100 in Aug 1961. Canada Consumer Price Index (CPI): All Items excl Food & Energy data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.I009: Core Inflation Index.

Canada Consumer Price Index (CPI): All Items excl Mortgage Interest Cost data was reported at 163.200 2002=100 in Mar 2025. This records an increase from the previous number of 162.600 2002=100 for Feb 2025. Canada Consumer Price Index (CPI): All Items excl Mortgage Interest Cost data is updated monthly, averaging 106.000 2002=100 from Dec 1984 (Median) to Mar 2025, with 484 observations. The data reached an all-time high of 163.200 2002=100 in Mar 2025 and a record low of 60.200 2002=100 in Dec 1984. Canada Consumer Price Index (CPI): All Items excl Mortgage Interest Cost data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.I009: Core Inflation Index.

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.

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.