The headline inflation rate in Canada rose to 3.1% in September of 2026 from 3.0% in the previous month, the highest reading since the two-year high of 3.2% in May, but below the market consensus of 3.2%. Prices accelerated for gasoline (27.8% vs 22.8% in August), tracking the recent surge in crude oil prices as the war in the Middle East prompted the US and Iran to tighten their blockade of oil and fuel tankers crossing the Persian Gulf. Excluding gasoline, the CPI rose by 2.2% annually, slowing from the 2.4% increase in the previous month. In the meantime, shelter costs also climbed (1.8% vs 1.5%) as the surge in longer-term bond yields pushed homeowners' and mortgage insurance up 4.9% annually. On the other hand, inflation softened for food (2.2% vs 2.8%) due to a sharp slowdown in food purchased from grocery stores (1.7% vs 2.8%). The core inflation rates tracked by the BoC remained below the 2% threshold, with the trimmed-mean rate at 1.8%, below expectations of 1.9%. source: Statistics Canada

Inflation Rate in Canada increased to 3.10 percent in September from 3 percent in August of 2026. Inflation Rate in Canada averaged 3.13 percent from 1915 until 2026, reaching an all time high of 21.60 percent in June of 1920 and a record low of -17.80 percent in June of 1921. This page provides - Canada Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2026.

Inflation Rate in Canada increased to 3.10 percent in September from 3 percent in August of 2026. Inflation Rate in Canada is expected to be 3.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada Inflation Rate is projected to trend around 2.60 percent in 2027 and 2.30 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-09-14 12:30 PM
Inflation Rate YoY
Aug 3% 3% 3.0% 3.0%
2026-10-19 12:30 PM
Inflation Rate YoY
Sep 3.1% 3% 3.2% 3.2%
2026-11-16 01:30 PM
Inflation Rate YoY
Oct 3.1%



Components Last Previous Unit Reference
Food Inflation 2.20 2.80 percent Sep 2026
Rent Inflation 2.80 2.80 percent Sep 2026
Services Inflation 2.60 2.80 percent Sep 2026

Related Last Previous Unit Reference
Consumer Price Index CPI 170.00 169.80 points Sep 2026
Core Consumer Prices 163.60 163.60 points Sep 2026
Core Inflation Rate YoY 2.20 2.40 percent Sep 2026
CPI Health and Personal Care 158.50 158.80 points Sep 2026
CPI Housing Utilities 191.50 190.90 points Sep 2026
CPI Recreation, Education and Reading 135.60 135.90 points Sep 2026
CPI Transportation 186.30 185.70 points Sep 2026
Export Prices 154.80 152.30 points Aug 2026
GDP Implicit Price 136.20 132.80 points Jun 2026
Goods Inflation 3.70 3.40 points Sep 2026
Import Prices 150.40 148.90 points Aug 2026
Inflation Rate YoY 3.10 3.00 percent Sep 2026
Inflation Rate MoM 0.10 -0.10 percent Sep 2026
Producer Prices 150.70 147.80 points Sep 2026
PPI YoY 14.50 13.20 percent Sep 2026
Raw Materials Prices MoM 182.70 174.30 points Sep 2026


Canada Inflation Rate
In Canada, the most important categories in the CPI basket are Shelter (30 percent of the total weight) and Transportation (17 percent). Food accounts for 16 percent; Household Operations, Furnishings and Equipment for 15 percent; Recreation, Education and Reading for 9 percent; Health and Personal Care for 5 percent; Alcoholic Beverages and Tobacco Products for 5 percent and Clothing and Footwear for the remaining 4 percent. The CPI basket is reviewed every four years on the basis of household surveys. The current weights are based on spending patterns in 2002.
Actual Previous Highest Lowest Dates Unit Frequency
3.10 3.00 21.60 -17.80 1915 - 2026 percent Monthly
2002=100

News Stream
Canada Inflation Rises Less than Expected
The headline inflation rate in Canada rose to 3.1% in September of 2026 from 3.0% in the previous month, the highest reading since the two-year high of 3.2% in May, but below the market consensus of 3.2%. Prices accelerated for gasoline (27.8% vs 22.8% in August), tracking the recent surge in crude oil prices as the war in the Middle East prompted the US and Iran to tighten their blockade of oil and fuel tankers crossing the Persian Gulf. Excluding gasoline, the CPI rose by 2.2% annually, slowing from the 2.4% increase in the previous month. In the meantime, shelter costs also climbed (1.8% vs 1.5%) as the surge in longer-term bond yields pushed homeowners' and mortgage insurance up 4.9% annually. On the other hand, inflation softened for food (2.2% vs 2.8%) due to a sharp slowdown in food purchased from grocery stores (1.7% vs 2.8%). The core inflation rates tracked by the BoC remained below the 2% threshold, with the trimmed-mean rate at 1.8%, below expectations of 1.9%.
2026-10-19
Canadian Inflation Holds at 3%
The headline inflation rate in Canada was unchanged from the previous month at 3.0% in August of 2026, aligned with market expectations and remaining below the post-Iran-war peak of 3.2%. Price growth remained dominated by energy goods as the war in the Middle East halted a key source of global oil supply. Gasoline inflation stood at 22.8% in the month, slowing slightly from the 25.7% increase in the previous month. Conversely, groceries prices rose 2.8% from the 3.1% increase in July, falling below the headline inflation rate for the first time in over two years. Core inflation rates that are tracked by the Bank of Canada remained close to their target. The trimmed-mean core rate and the median core rate were both unchanged at 1.9% and 2%, respectively, aligned with expectations. From the previous month, the Canadian CPI inched down by 0.1%.
2026-09-14
Canada Inflation Rate Rebounds
The headline inflation rate in Canada inched higher to 3% in July of 2026 from 2.8% in the previous month, slightly above market expectations of 2.9%, but remaining below the post-Iran-war peak of 3.2% from two months prior. Gasoline price inflation accelerated to 25.7% from 20.5% in the previous month, tracking wholesale oil and refined product markets globally as strikes between Iran and the US reignited in the period and triggered blockades on tankers in the key region. In turn, core inflation rates tracked by the Bank of Canada inched slightly higher, with the median core rate up at 2% and the trimmed-mean rate at 1.9%. Upward pressure was noted from travel tours (15.2% vs 6.8%) amid higher prices for flights and accommodation due to the FIFA World Cup taking place in North America. Still, prices eased for food (3.0% vs 3.5) and shelter (1.3% vs 1.5%). From the previous month, consumer prices rose by 0.5%, rebounding from the 0.4% drop in the earlier period.
2026-08-17