Inflation Canada 2026

Average inflation: 2.7%

Inflation in 2026

Inflation is normal at 2.7%, around the ECB target.

Peak and Trough

The highest inflation was in May at 3.2%. The lowest inflation was in February at 1.8%.

Highest month
May: 3.2%
Lowest month
February: 1.8%
Difference
1.4 percentage points
Months with data
9 of 12

Historical Context

Inflation is 0.9 percentage points lower than the 5-year average of 3.6%.

5-year average
3.6%
10-year average
2.8%
All-time high (2022)
6.8%
All-time low (2009)
0.3%

Trend

Over the period 2024-2026, inflation has remained relatively stable. Compared to 2025, inflation has risen by 0.6 percentage points.

Change vs. previous year
+0.6 percentage points
Largest monthly swing
May: +1.5 percentage points

ECB Target

Inflation is 0.7 percentage points 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 CA$100 this year will cost approximately CA$102.70 next year at this inflation rate.

Multi-year trend

Monthly figures 2026

Month overview

Month Inflation Difference vs. 2025
January 2.3% +0.4
February 1.8% -0.8
March 2.4% +0.1
April 2.8% +1.1
May 3.2% +1.5
June 2.8% +0.9
July 3.0% +1.3
August 3.0% +1.1
September 3.1% +0.7
Average 2.7%

Data source

Data from OECD. Last updated: 29/10/2026. Not all months available yet.

See also