Inflation in Canada (CPI) Current and historic Canadian inflation (consumer price index)

This page shows the current and historic inflation figures for Canada based on the consumer price index (CPI).

Latest inflation rates from all over the world

CPI Canada (yearly basis)
Month
Inflation rate
April 2024
2.69 %
March 2024
2.90 %
February 2024
2.78 %
January 2024
2.86 %
December 2023
3.40 %
November 2023
3.12 %
October 2023
3.12 %
September 2023
3.80 %
August 2023
4.00 %
July 2023
3.27 %
June 2023
2.81 %
May 2023
3.36 %
CPI Canada (monthly basis)
Month
Inflation rate
April 2024
0.50 %
March 2024
0.63 %
February 2024
0.32 %
January 2024
0.00 %
December 2023
-0.31 %
November 2023
0.13 %
October 2023
0.06 %
September 2023
-0.13 %
August 2023
0.38 %
July 2023
0.57 %
June 2023
0.13 %
May 2023
0.38 %

Chart - historical CPI inflation Canada

Historical Inflation rates

Our content is based on reliable sources. However, we do not accept liability for any errors. The content of this website is for informational purposes only and is not intended as financial advice. Decisions you make based on the information we display are always at your own expense and risk.

What is the Canadian inflation based on CPI?

When we talk about the rate of inflation in Canada, this often refers to the rate of inflation based on the consumer price index, or CPI for short. The Canadian CPI shows the change in prices of a standard package of goods and services which Canadian households purchase for consumption.

In order to measure Canadian inflation, an assessment is made of how much the Canadian CPI has risen in percentage terms over a give period compared to the CPI in Canada in a preceding period. If prices have fallen this is called deflation (negative inflation).