Inflation Canada 2003
Average inflation: 2.8%
Current Inflation
Inflation is normal at 2.8%, around the ECB target.
Peak and Trough
The highest inflation was in February at 4.7%. The lowest inflation was in October at 1.6%.
- Highest month
- February: 4.7%
- Lowest month
- October: 1.6%
- Difference
- 3.1 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 1.4%. The lowest price increase was in Food and non-alcoholic beverages with an average of 1.4%.
- Highest increase
- Food and non-alcoholic beverages: 1.4%
- Lowest increase
- Food and non-alcoholic beverages: 1.4%
Historical Context
Current inflation is around the 5-year average of 2.4%.
- 5-year average
- 2.4%
- 10-year average
- 1.8%
- All-time high (1991)
- 5.6%
- All-time low (1994)
- 0.2%
Trend
Inflation has remained relatively stable. Compared to 2002, the difference is minimal (+0.6 percentage point).
- Change vs. previous year
- +0.6 percentage points
- Largest monthly swing
- February: +3.3 percentage points
ECB Target
Inflation is 0.8% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €102.80 next year at this inflation rate.
Multi-year trend
Monthly figures 2003
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2002 |
|---|---|---|
| January | 4.5% | +3.2 |
| February | 4.7% | +3.3 |
| March | 4.2% | +2.3 |
| April | 2.9% | +1.2 |
| May | 2.8% | +1.7 |
| June | 2.6% | +1.4 |
| July | 2.1% | 0.0 |
| August | 2.0% | -0.5 |
| September | 2.2% | -0.1 |
| October | 1.6% | -1.6 |
| November | 1.6% | -2.8 |
| December | 2.1% | -1.7 |
| Average | 2.8% |
Data source
Data from OECD. Last updated: 17/12/2025.