Inflation in Canada

Canada Inflation | Economic News & Forecasts

Canada - Inflation

Inflation holds steady in October

Inflation came in at 6.9% in October, matching September’s figure. Rising price pressure for housing and transport were offset by lower price pressures for food and recreation and education.

The trend pointed up slightly, with annual average inflation coming in at 6.5% in October (September: 6.3%). Meanwhile, core inflation fell to 5.8% in October, from September’s 6.0%.

Finally, consumer prices increased 0.72% from the previous month in October, accelerating from the 0.07% increase recorded in September. October's uptick marked the highest reading since May.

FocusEconomics analysts project inflation to average 3.5% in 2023, which is up 0.1 percentage points from last month’s forecast. In 2024, our panel sees inflation averaging 2.2%.

Canada - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)1.1  1.4  1.6  2.3  1.9  

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Canada Inflation Chart


Canada Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Statistics Canada.

Canada Facts

Value Change Date
Bond Yield1.701.00 %Dec 31
Exchange Rate1.300.15 %Jan 01

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