How does the inflation rate in Canada compare to other countries?

In general, the inflation rate in Canada follows a global trend of decreasing inflation rates since 2011, with the lowest slump expected to occur during 2015, but forecasts show an increase over the following few years. Additionally, Canada's inflation rate is in quite good shape compared to the rest of the world.

What is the current inflation rate in Canada?

The current inflation rate in Canada is 6.86%, which is calculated based on CPI (Consumer Price Index) values for the last 12 months ending in September 2022. The table below contains annual inflation rates in Canada from 1915.

What factors contribute to inflation in Canada?

They include expenses for groceries, clothes, rent, power, telecommunications, recreational activities and raw materials (e.g. gas, oil), as well as federal fees and taxes. In 2021, the average inflation rate in Canada was approximately 3.4 percent compared to the previous year.

What was Canada's inflation rate in September of 2022?

It amounted to 0.1 percent at that time, but had reached 6.9 percent by October 2022, a rise that was mainly driven by rising gas prices. By the end of September 2022, the Consumer Price Index (CPI) of Canada, which is the official measure of inflation, had increased by 0.1 percent from the previous month.