Canada Inflation Rate — 2026 CPI Data, Trend & Outlook
Canada's inflation rate was 3.03% in August 2026, little changed from 3.03% the previous month. A year earlier it stood at 1.85%.
Canada's inflation rate stands at 3.03% as of August 2026. The inflation rate currently sits at 3.03% (little changed from 3.03% in the prior month). Across the tracked window it has ranged between -0.37% and 8.13%, and is 1.18% higher than a year ago.
The trend
Among the 193 economies tracked on this platform, Canada ranks #105 on inflation rate by latest value. It was little changed from 3.03% in the previous month, and compares with a year-earlier 1.85%.
What's driving it
Inflation is shaped by energy and food prices, the exchange rate, wage growth and the stance of monetary policy; central banks lift interest rates to cool it and ease when it falls back toward target.
Recent readings
| Period | Inflation rate |
|---|---|
| Aug 2026 | 3.03% |
| Jul 2026 | 3.03% |
| Jun 2026 | 2.80% |
| May 2026 | 3.23% |
| Apr 2026 | 2.82% |
| Mar 2026 | 2.39% |
| Feb 2026 | 1.78% |
| Jan 2026 | 2.29% |
Data: Source: OECD (terms permit extract/distribute, incl. commercial, with citation). Figures carry an effective date; confirm with the source before relying on them.
Frequently asked questions
What Is the Inflation Rate in Canada Right Now (2026)?
Canada's inflation rate was 3.03% in August 2026, little changed from 3.03% the previous month. A year earlier it stood at 1.85%.
Is the inflation rate rising or falling in Canada?
It was little changed in the latest reading — 3.03% in August 2026 versus 3.03% a month earlier. Year on year it is higher.
What is inflation rate?
It measures how fast consumer prices are rising, measured by the consumer price index (CPI).