Inflation Canada 1974
Average inflation: 11.0%
Current Inflation
Inflation is very high at 11.0%, far above the ECB target.
Peak and Trough
The highest inflation was in December at 12.7%. The lowest inflation was in February at 9.2%.
- Highest month
- December: 12.7%
- Lowest month
- February: 9.2%
- Difference
- 3.5 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food and non-alcoholic beverages with an average of 15.8%. The lowest price increase was in Food and non-alcoholic beverages with an average of 15.8%.
- Highest increase
- Food and non-alcoholic beverages: 15.8%
- Lowest increase
- Food and non-alcoholic beverages: 15.8%
Historical Context
Current inflation is 5.1% higher than the 5-year average of 5.9%. This approaches the highest level since records began (11.0% in 1974).
- 5-year average
- 5.9%
- 10-year average
- 4.8%
- All-time high (1974)
- 11%
- All-time low (1955)
- 0.2%
Trend
Inflation shows an upward trend. Compared to 1973, inflation has risen by +3.5 percentage point.
- Change vs. previous year
- +3.5 percentage points
- Largest monthly swing
- March: +4.9 percentage points
ECB Target
Inflation is 9.0% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €111.00 next year at this inflation rate.
Multi-year trend
Monthly figures 1974
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 1973 |
|---|---|---|
| January | 9.3% | +3.7 |
| February | 9.2% | +3.2 |
| March | 10.5% | +4.9 |
| April | 10.0% | +3.5 |
| May | 11.6% | +4.7 |
| June | 11.5% | +3.7 |
| July | 11.0% | +3.3 |
| August | 10.8% | +2.7 |
| September | 11.2% | +3.1 |
| October | 12.0% | +3.5 |
| November | 11.9% | +2.5 |
| December | 12.7% | +3.3 |
| Average | 11.0% |
Data source
Data from OECD. Last updated: 17/12/2025.