Inflation Canada 2008
Average inflation: 2.4%
Current Inflation
Inflation is normal at 2.4%, around the ECB target.
Peak and Trough
The highest inflation was in August at 3.5%. The lowest inflation was in December at 1.2%.
- Highest month
- August: 3.5%
- Lowest month
- December: 1.2%
- Difference
- 2.3 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 4.0%. The lowest price increase was in Food and non-alcoholic beverages with an average of 4.0%.
- Highest increase
- Food and non-alcoholic beverages: 4.0%
- Lowest increase
- Food and non-alcoholic beverages: 4.0%
Historical Context
Current inflation is around the 5-year average of 2.1%.
- 5-year average
- 2.1%
- 10-year average
- 2.2%
- All-time high (1991)
- 5.6%
- All-time low (1994)
- 0.2%
Trend
Inflation has remained relatively stable. Compared to 2007, the difference is minimal (+0.3 percentage point).
- Change vs. previous year
- +0.3 percentage points
- Largest monthly swing
- August: +1.8 percentage points
ECB Target
Inflation is 0.4% 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 €102.40 next year at this inflation rate.
Multi-year trend
Monthly figures 2008
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2007 |
|---|---|---|
| January | 2.2% | +1.1 |
| February | 1.8% | -0.2 |
| March | 1.4% | -0.9 |
| April | 1.7% | -0.5 |
| May | 2.2% | 0.0 |
| June | 3.1% | +0.9 |
| July | 3.4% | +1.2 |
| August | 3.5% | +1.8 |
| September | 3.4% | +0.9 |
| October | 2.6% | +0.2 |
| November | 2.0% | -0.5 |
| December | 1.2% | -1.2 |
| Average | 2.4% |
Data source
Data from OECD. Last updated: 17/12/2025.