The headline inflation rate in Canada fell to 1.8% in February of 2026 from 2.3% in the previous month, slightly under market expectations of 1.9% to reflect the softest rate since July of the previous year. Price growth remained in line with the baseline expectations from the Bank of Canada that inflation would remain near the 2% mark in the near term, although the Bank's outlook and the data preceded the outbreak of war in Iran that triggered a surge in global energy prices, and those of other selected commodities. February's drop reflected base effects from the end of tax breaks in February of 2025, driving food inflation to slow to 5.3% from 7.3% last month. Prices also decelerated for recreation and education (0.5% vs 1% in January), household operations (1.2% vs 2.5%), and shelter (1.5% vs 1.7%), while transportation deflation slowed (-0.8% vs -1.7%). Meanwhile, core rates tracked by the BoC eased more than expected, with the trimmed-mean rate falling to a four-year low of 2.3%. source: Statistics Canada

Inflation Rate in Canada decreased to 1.80 percent in February from 2.30 percent in January 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 March of 2026.

Inflation Rate in Canada decreased to 1.80 percent in February from 2.30 percent in January of 2026. Inflation Rate in Canada is expected to be 1.80 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 2.20 percent in 2027 and 2.30 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-02-17 01:30 PM
Inflation Rate YoY
Jan 2.3% 2.4% 2.4% 2.5%
2026-03-16 12:30 PM
Inflation Rate YoY
Feb 1.8% 2.3% 1.9% 2.1%
2026-04-20 12:30 PM
Inflation Rate YoY
Mar 1.8% 1.8%

Components Last Previous Unit Reference
Food Inflation 5.40 7.30 percent Feb 2026
Rent Inflation 3.90 4.30 percent Feb 2026
Services Inflation 2.70 3.40 percent Feb 2026

Related Last Previous Unit Reference
Consumer Price Index CPI 165.90 165.00 points Feb 2026
Core Consumer Prices 161.30 160.60 points Feb 2026
Core Inflation Rate YoY 2.30 2.60 percent Feb 2026
CPI Housing Utilities 189.50 189.60 points Feb 2026
CPI Transportation 172.20 170.20 points Feb 2026
Export Prices 142.40 139.50 points Jan 2026
GDP Implicit Price 130.10 129.10 points Sep 2025
Import Prices 137.90 137.60 points Jan 2026
Inflation Rate YoY 1.80 2.30 percent Feb 2026
Inflation Rate MoM 0.50 0.00 percent Feb 2026
Producer Prices 138.20 137.60 points Feb 2026
PPI YoY 5.40 4.30 percent Jan 2026
Raw Materials Prices MoM 159.40 158.50 points Jan 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
1.80 2.30 21.60 -17.80 1915 - 2026 percent Monthly
2002=100

News Stream
Canada Inflation Falls More than Expected
The headline inflation rate in Canada fell to 1.8% in February of 2026 from 2.3% in the previous month, slightly under market expectations of 1.9% to reflect the softest rate since July of the previous year. Price growth remained in line with the baseline expectations from the Bank of Canada that inflation would remain near the 2% mark in the near term, although the Bank's outlook and the data preceded the outbreak of war in Iran that triggered a surge in global energy prices, and those of other selected commodities. February's drop reflected base effects from the end of tax breaks in February of 2025, driving food inflation to slow to 5.3% from 7.3% last month. Prices also decelerated for recreation and education (0.5% vs 1% in January), household operations (1.2% vs 2.5%), and shelter (1.5% vs 1.7%), while transportation deflation slowed (-0.8% vs -1.7%). Meanwhile, core rates tracked by the BoC eased more than expected, with the trimmed-mean rate falling to a four-year low of 2.3%.
2026-03-16
Canadian Inflation Rate Unexpectedly Eases
The headline inflation rate in Canada eased to 2.3% in January of 2026 from the three-month high of 2.4% in the previous period, slightly under market expectations that it would hold at 2.4%. The result was loosely aligned with the Bank of Canada's projection that the inflation rate would be near the 2.5% mark at the start of the year before treading below the 2% target, as base effects from the GST/HST break in January of 2025 continued to impact annual inflation rates. Deflation picked up for transportation (-17% vs -0.5% in December) due to the 16.7% plunge in gasoline prices. Inflation slowed for shelter (1.7% vs 2.1%) and household operations and furnishings (2.5% vs 3.6%). In turn, prices accelerated for food (7.3% vs 6.2%) due to breaks from the tax regimes, especially lifting prices of food from restaurants (12.3%). Meanwhile, the trimmed-mean core rate fell to 2.4% from 2.7%, well under expectations of 2.6%, for the lowest since April 2021.
2026-02-17
Canada Inflation Rate Unexpectedly Rises
The headline inflation rate in Canada rose to 2.4% in December of 2025 from 2.2% in the previous month, the highest in three months, and firmly above market expectations that the rate would remain unchanged. The result contrasted slightly with the Bank of Canada's expectations that CPI inflation would remain around the 2% threshold in the near-term. The acceleration reflected base effects from the temporary GST and HST break introduced in December 2024, triggering higher inflation rates for food purchased from restaurants (8.5% vs 3.3% in November), alcoholic beverages from stores (5.6% vs 3%), and toys, games, and hobby supplies (7.5% vs -0.5%). Meanwhile, inflation eased for shelter (2.1% vs 2.3%) and prices fell for transportation (-0.5% vs 0.7%). Consequently, the median core inflation rate, which is closely monitored by the BoC as a gauge for underlying price growth, slowed to a one-year low of 2.5%.
2026-01-19