Canada Inflation Rate
Jul 2026 · Monthly
Canada's annual inflation rate edged up to 3.034% in August from 3.032% in July, the second consecutive month above 3%. The August reading was more than a percentage point above the 1.85% recorded a year earlier and followed a low of 1.78% in February. Inflation peaked at 3.23% in May before easing to 2.80% in June and then rebounding to around 3.0% in July and August. The current level remains far below the all-time high of 21.6% in June 1920 and above the all-time low of -17.8% in July 1921, according to the International Monetary Fund.
source: International Monetary Fund
Canada's annual inflation rate rose to 3.03% in July 2026 from 2.80% in June. The reading remained below the all-time high of 21.65% in June 1920 but was the highest since May 2026, when it was 3.23%. The data series dates back to January 1915.
| Actual | Previous | Highest | Lowest | Dates | Frequency |
|---|---|---|---|---|---|
| 3.0% | 2.8% | 21.6%Jun 1920 | -17.8%Jul 1921 | 1915 – 2026 | Monthly |
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About this series
Inflation Rate in Canada averaged 2.2% from 1990 until 2026, reaching an all-time high of 21.6% in Jun 1920 and a record low of -17.8% in Jul 1921. The series is reported monthly with history from 1915.
The inflation rate measures the year-over-year change in consumer prices for Canada, expressed as a percentage. It is reported monthly and covers the period from January 1915 to the present. The data provides a broad gauge of price movements in the Canadian economy.
Source & methodology
International Monetary Fund · IMF. Data is also available free of charge from the IMF
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