What was Canada's inflation rate in July 2023?

Updated on August 15, 2023: Canada's inflation rate was 3.3% in July 2023, a sizable rise from the 2.8% annual inflation rate seen in June 2023. Excluding gasoline, the CPI rose by 4.1%, a slight increase compared with 4% in June. Excluding energy, CPI rose by 4.2% compared with 4.4% in June.

What is Canada's inflation rate in 2022?

For June 2022, the annual inflation rate for goods was 11.2%, while the same 12-month period saw an annual inflation rate for services at just 5.2%. Prices used in Canada’s Consumer Price Index are collected across the country. Regional differences in prices can occur, but in aggregate, they provide a national picture of inflation.

What is the current inflation rate in Canada?

The current inflation rate in Canada is 2.81%, which is calculated based on CPI (Consumer Price Index) values for the last 12 months ending in June 2023. The table below contains annual inflation rates in Canada from 1915. The 'Inflation %' column indicates how much prices have changed since the previous year.

Why did the CPI rise in April 2023?

This was the first acceleration in headline consumer inflation since June 2022. On a year-over-year basis, higher rent prices and mortgage interest costs contributed the most to the all-items CPI increase in April 2023. On a monthly basis, the CPI was up 0.7% in April, following a 0.5% gain in March.