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. source: Statistics Canada

Inflation Rate in Canada increased to 3 percent in July from 2.80 percent in June 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 August of 2026.

Inflation Rate in Canada increased to 3 percent in July from 2.80 percent in June of 2026. Inflation Rate in Canada is expected to be 2.90 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
2026-07-20 12:30 PM
Inflation Rate YoY
Jun 2.8% 3.2% 2.9% 3%
2026-08-17 12:30 PM
Inflation Rate YoY
Jul 3% 2.8% 2.9% 2.9%
2026-09-14 12:30 PM
Inflation Rate YoY
Aug 3%



Components Last Previous Unit Reference
Food Inflation 3.00 3.50 percent Jul 2026
Rent Inflation 2.50 3.50 percent Jul 2026
Services Inflation 2.50 2.20 percent Jul 2026

Related Last Previous Unit Reference
Consumer Price Index CPI 169.90 169.00 points Jul 2026
Core Consumer Prices 163.40 163.00 points Jul 2026
Core Inflation Rate YoY 2.30 2.10 percent Jul 2026
CPI Health and Personal Care 158.60 158.60 points Jul 2026
CPI Housing Utilities 190.30 190.20 points Jul 2026
CPI Recreation, Education and Reading 136.00 134.50 points Jul 2026
CPI Transportation 186.80 184.20 points Jul 2026
Export Prices 152.00 154.30 points Jun 2026
GDP Implicit Price 132.80 131.30 points Mar 2026
Goods Inflation 3.70 3.50 points Jul 2026
Import Prices 150.10 144.60 points Jun 2026
Inflation Rate YoY 3.00 2.80 percent Jul 2026
Inflation Rate MoM 0.50 -0.40 percent Jul 2026
Producer Prices 145.60 147.60 points Jun 2026
PPI YoY 12.40 13.60 percent Jun 2026
Raw Materials Prices MoM 172.20 184.90 points Jun 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
3.00 2.80 21.60 -17.80 1915 - 2026 percent Monthly
2002=100

News Stream
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
Canada Inflation Slows More than Expected
The headline inflation rate in Canada fell to 2.8% in June of 2026 from the over-two-year high of 3.2% in the previous month, slightly under market expectations of 2.9%. The drop was consistent with a slower surge in prices of gasoline (20.5% vs 33.2% in May), trimming inflation for overall transportation (6.7% vs 9.0%), as the momentary restoration of energy exports from the Middle East had eased wholesale fuel prices. Price growth also eased for food (3.5% vs 3.8%) amid softer inflation in grocery stores. Meanwhile, the median core (1.9% vs 2.1%) and the trimmed-mean (1.8% vs 2%), both key core rates tracked by the BoC, fell more than expected to their lowest in over five years. Inflation fell for shelter (1.5% vs 1.7%) and health and personal care (2.5% vs 2.7%), while prices dropped for household operations, furnishings, and equipment (-0.2% vs -0.2%). From the previous month, the Canadian CPI fell by 0.4% amid a 10.2% drop in gasoline prices.
2026-07-20
Canada Inflation Rises to Over 2-Year High
The headline inflation rate in Canada rose to 3.2% in May of 2026 from 2.8% in the previous month, ahead of market expectations of 3% and the 2.8% rate from the previous month to mark the fastest inflation rate since December 2023. The increase was largely due to a surge in gasoline inflation (33.2% vs 22.8% in April) as the war in the Middle East suspended energy exports from the key region, lifting broader energy costs in Canada by 9% (vs 7.6%). Meanwhile, food inflation picked up to 3.8% from 3.5% amid a 5.3% jump for fresh fruit and 9% increase for vegetables, aligned with higher prices for fertilizers. Still, underlying inflation rates tracked by the BoC remained steady, with the trimmed-mean core rate at 2% and median core rate at 2.1%. Inflation edged lower for shelter (1.7% vs 1.8%) and health and personal care (2.7% vs 3.3%), and prices dropped for household operations (-0.2% vs 0.4%). The Canadian CPI rose 1% from the previous month.
2026-06-22