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.