Canada Inflation Rate (CPI YoY %) - Historical Data
Year-on-year percentage change in the headline Consumer Price Index (CPI) for Canada from 1915 to 2026, compiled from the BIS Long Consumer Prices archive (WS_LONG_CPI). The latest inflation rate is 3.03% (Aug 2026) compared with the Bank of Canada official target of 2.0% Midpoint (1.0%-3.0% Band).
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Current Statistics & Historical Records
Latest Reading (Aug 2026)
3.03%
Prev (Jul 2026): 3.03%0.00 pp
Highest Recorded (Jun 1920)
21.65%
Peak consumer price inflation rate in Canada (Bank of Canada mandate: 2.0% Midpoint (1.0%-3.0% Band)).
Lowest Recorded (Jun 1921)
-17.80%
Lowest recorded CPI inflation / deflation reading in Canada.
Long-Run Mean (1915–2026)
3.13%
112 annual observations · Monthly
Bank of Canada · CAD
Canada Inflation Rate (CPI YoY %) (1915-2026)
% YoYDrag to pan, scroll to zoom, or toggle between full archive (1915–2026) and recent monthly observations.
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Source: Bank for International Settlements (BIS) & National Statistical Office (WS_LONG_CPI:M:CA:771)
Latest: 3.03% (Aug 2026)
Canada Inflation Rate Averages by Decade
Decadal mean, peak, and trough across the 1915–2026 archive
| Decade | Years Covered | Decade Mean | Decade High (Year) | Decade Low (Year) |
|---|---|---|---|---|
| 1910s | 1915–1919 | 10.34% | 17.98% (1917) | 2.09% (1915) |
| 1920s | 1920–1929 | -0.28% | 16.35% (1920) | -11.91% (1921) |
| 1930s | 1930–1939 | -1.74% | 3.60% (1937) | -9.87% (1931) |
| 1940s | 1940–1949 | 4.83% | 14.36% (1948) | 0.64% (1945) |
| 1950s | 1950–1959 | 2.40% | 10.54% (1951) | -1.00% (1953) |
| 1960s | 1960–1969 | 2.53% | 4.56% (1969) | 1.02% (1961) |
| 1970s | 1970–1979 | 7.38% | 10.97% (1974) | 2.70% (1971) |
| 1980s | 1980–1989 | 6.51% | 12.47% (1981) | 3.96% (1985) |
| 1990s | 1990–1999 | 2.20% | 5.64% (1991) | 0.17% (1994) |
| 2000s | 2000–2009 | 2.12% | 2.77% (2003) | 0.31% (2009) |
| 2010s | 2010–2019 | 1.74% | 2.91% (2011) | 0.94% (2013) |
| 2020s | 2020–2026 | 3.13% | 6.80% (2022) | 0.72% (2020) |
Complete Annual Historical Ledger (1915–2026)
Unit: % YoY · Source: Bank for International Settlements (BIS) & National Statistical Office (WS_LONG_CPI:M:CA:771)
| Year | Annual Value (% YoY) | Intra-Year Range (Min – Max) | Monetary Regime & Historical Context |
|---|---|---|---|
| 2026 | 2.67% | 1.78% – 3.23% | - |
| 2025 | 2.07% | 1.73% – 2.64% | Post-tightening monetary recalibration across advanced and emerging central banks |
| 2024 | 2.39% | 1.64% – 2.90% | G10 policy rates peak and pivot toward gradual monetary normalization |
| 2023 | 3.90% | 2.81% – 5.92% | - |
| 2022 | 6.80% | 5.14% – 8.13% | Global inflation surge triggers fastest synchronized rate hiking cycle in four decades |
| 2021 | 3.39% | 1.02% – 4.80% | - |
| 2020 | 0.72% | -0.37% – 2.40% | COVID-19 pandemic emergency rate cuts and record balance sheet expansion |
| 2019 | 1.95% | 1.44% – 2.40% | - |
| 2018 | 2.27% | 1.68% – 2.99% | - |
| 2017 | 1.60% | 1.01% – 2.13% | - |
| 2016 | 1.43% | 1.10% – 2.01% | Bank of Japan introduces Yield Curve Control (YCC); post-Brexit BoE easing |
| 2015 | 1.12% | 0.80% – 1.61% | - |
| 2014 | 1.91% | 1.14% – 2.36% | ECB and European peers introduce Negative Interest Rate Policy (NIRP) |
| 2013 | 0.94% | 0.41% – 1.32% | - |
| 2012 | 1.52% | 0.83% – 2.62% | - |
| 2011 | 2.91% | 2.16% – 3.70% | European Sovereign Debt Crisis and Swiss franc safe-haven surge |
| 2010 | 1.78% | 0.96% – 2.44% | - |
| 2009 | 0.31% | -0.95% – 1.43% | - |
| 2008 | 2.37% | 1.16% – 3.49% | Global Financial Crisis drives major central banks to the zero lower bound and QE1 |
| 2007 | 2.14% | 1.11% – 2.47% | - |
| 2006 | 2.01% | 0.74% – 2.81% | - |
| 2005 | 2.22% | 1.62% – 3.24% | - |
| 2004 | 1.86% | 0.68% – 2.54% | - |
| 2003 | 2.77% | 1.58% – 4.68% | - |
| 2002 | 2.26% | 1.12% – 4.42% | - |
| 2001 | 2.53% | 0.62% – 3.90% | Dot-com bust and synchronized G10 monetary easing cycle |
| 2000 | 2.72% | 2.16% – 3.21% | - |
| 1999 | 1.73% | 0.66% – 2.63% | Launch of the Euro and establishment of the European Central Bank (ECB) |
| 1998 | 1.00% | 0.66% – 1.22% | - |
| 1997 | 1.62% | 0.78% – 2.27% | Asian Financial Crisis triggers emergency EM currency defense hikes |
| 1996 | 1.57% | 1.25% – 2.16% | - |
| 1995 | 2.15% | 0.58% – 2.93% | - |
| 1994 | 0.17% | -0.23% – 1.29% | Global bond market selloff and pre-emptive Federal Reserve tightening cycle |
| 1993 | 1.86% | 1.65% – 2.40% | - |
| 1992 | 1.49% | 1.08% – 2.17% | European Exchange Rate Mechanism (ERM) crisis and Black Wednesday |
| 1991 | 5.64% | 3.75% – 6.91% | - |
| 1990 | 4.78% | 4.11% – 5.50% | German reunification tightening and Japanese asset bubble peak |
| 1989 | 4.98% | 4.30% – 5.31% | - |
| 1988 | 4.03% | 3.88% – 4.34% | - |
| 1987 | 4.36% | 4.01% – 4.74% | Louvre Accord and Black Monday central bank liquidity provision |
| 1986 | 4.20% | 3.81% – 4.55% | - |
| 1985 | 3.96% | 3.52% – 4.40% | Plaza Accord coordinated G5 currency intervention depreciates USD |
| 1984 | 4.32% | 3.38% – 5.49% | - |
| 1983 | 5.89% | 4.42% – 8.24% | - |
| 1982 | 10.79% | 9.27% – 11.91% | - |
| 1981 | 12.47% | 12.06% – 12.90% | Volcker disinflation peak pushes benchmark policy rates to postwar highs |
| 1980 | 10.12% | 9.16% – 11.11% | - |
| 1979 | 9.14% | 8.33% – 9.78% | Second oil shock; Paul Volcker appointed Federal Reserve Chair |
| 1978 | 8.97% | 8.48% – 9.73% | - |
| 1977 | 7.96% | 6.23% – 9.40% | - |
| 1976 | 7.59% | 5.63% – 9.78% | - |
| 1975 | 10.69% | 9.42% – 12.05% | - |
| 1974 | 10.97% | 9.21% – 12.65% | First OPEC oil shock triggers global stagflation and steep policy rate hikes |
| 1973 | 7.47% | 5.56% – 9.42% | - |
| 1972 | 4.99% | 4.33% – 5.69% | - |
| 1971 | 2.70% | 0.99% – 4.93% | Nixon Shock suspends USD gold convertibility; Bretton Woods system ends |
| 1970 | 3.36% | 1.00% – 5.21% | - |
| 1969 | 4.56% | 3.65% – 5.38% | - |
| 1968 | 4.06% | 3.31% – 4.92% | - |
| 1967 | 3.58% | 2.87% – 4.00% | - |
| 1966 | 3.81% | 3.01% – 4.22% | Credit crunch of 1966 and monetary tightening |
| 1965 | 2.33% | 1.83% – 3.05% | - |
| 1964 | 1.92% | 1.23% – 2.50% | - |
| 1963 | 1.63% | 0.63% – 1.91% | - |
| 1962 | 1.06% | 0.00% – 1.91% | - |
| 1961 | 1.02% | 0.00% – 1.95% | - |
| 1960 | 1.36% | 0.00% – 2.65% | - |
| 1959 | 1.21% | 0.00% – 2.00% | - |
| 1958 | 2.37% | 1.34% – 3.42% | Eisenhower recession and global monetary easing |
| 1957 | 3.32% | 2.05% – 4.26% | - |
| 1956 | 1.35% | 0.00% – 2.84% | - |
| 1955 | 0.18% | -0.70% – 0.71% | - |
| 1954 | 0.66% | 0.00% – 1.44% | Post-Korean War Federal Reserve policy rate normalization |
| 1953 | -1.00% | -2.11% – 0.71% | - |
| 1952 | 2.70% | -1.40% – 10.77% | - |
| 1951 | 10.54% | 7.44% – 13.01% | - |
| 1950 | 2.66% | 0.00% – 5.74% | - |
| 1949 | 3.53% | 0.83% – 8.04% | - |
| 1948 | 14.36% | 9.01% – 17.53% | - |
| 1947 | 8.96% | 5.43% – 14.43% | - |
| 1946 | 3.09% | 1.10% – 5.43% | - |
| 1945 | 0.64% | -1.10% – 2.22% | - |
| 1944 | 0.68% | -2.17% – 3.41% | - |
| 1943 | 2.16% | 0.00% – 4.55% | - |
| 1942 | 4.69% | 1.15% – 7.32% | - |
| 1941 | 5.94% | 3.80% – 8.64% | - |
| 1940 | 4.25% | 2.63% – 6.58% | - |
| 1939 | -0.74% | -2.56% – 2.63% | - |
| 1938 | 0.57% | -2.56% – 2.63% | - |
| 1937 | 3.60% | 2.70% – 4.11% | - |
| 1936 | 2.07% | 1.35% – 2.78% | - |
| 1935 | 0.47% | -1.37% – 2.78% | - |
| 1934 | 1.18% | 0.00% – 2.82% | - |
| 1933 | -4.32% | -7.69% – -2.70% | - |
| 1932 | -9.37% | -11.63% – -7.59% | - |
| 1931 | -9.87% | -11.96% – -7.45% | - |
| 1930 | -0.98% | -6.38% – 2.17% | - |
| 1929 | 1.01% | 0.00% – 2.22% | - |
| 1928 | 0.74% | -1.10% – 2.22% | - |
| 1927 | -1.45% | -2.17% – 0.00% | - |
| 1926 | 0.74% | -1.08% – 2.22% | - |
| 1925 | 1.21% | 0.00% – 2.27% | - |
| 1924 | -1.90% | -4.35% – 0.00% | - |
| 1923 | 0.01% | -2.13% – 1.10% | - |
| 1922 | -7.64% | -14.55% – -2.13% | - |
| 1921 | -11.91% | -17.80% – 3.77% | - |
| 1920 | 16.35% | 9.80% – 21.65% | - |
| 1919 | 9.58% | 7.45% – 13.10% | - |
| 1918 | 13.11% | 10.00% – 15.00% | - |
| 1917 | 17.98% | 13.85% – 21.54% | - |
| 1916 | 8.95% | 4.92% – 14.29% | - |
| 1915 | 2.09% | 0.00% – 3.39% | - |
Frequently Asked Questions - Canada Inflation Rate
What is the current inflation rate in Canada?
As of Aug 2026, headline consumer price inflation in Canada is 3.03% year-on-year, compared to the Bank of Canada target of 2.0% Midpoint (1.0%-3.0% Band).
What was the highest inflation rate recorded in Canada?
In the 1915-2026 series, Canada CPI inflation peaked at 21.65% in Jun 1920 and reached a low of -17.80% in Jun 1921.
Statistical Provenance
Source Metadata & Methodology Notes
- Primary Institution:
- Bank for International Settlements (BIS) & National Statistical Office
- Dataset / Dataflow:
- BIS Long Series on Consumer Prices (WS_LONG_CPI)
- Canonical Series ID:
- WS_LONG_CPI:M:CA:771
- Reuse & License:
- Terms of permitted use of BIS statistics
- Unit of measure: Year-on-year percentage change in headline consumer price index (UNIT_MEASURE=771).
- Central bank benchmark target: 2.0% Midpoint (1.0%-3.0% Band) (Bank of Canada).
- Annual table values represent annual average inflation across each calendar year.
Academic & Media Attribution
Cite This Dataset (APA & BibTeX)
APA 7th Edition
CentralBankData.com. (2026). Canada Inflation Rate (CPI YoY %), compiled from Bank for International Settlements (WS_LONG_CPI:M:CA:771). https://centralbankdata.com/canada-inflation-rate
BibTeX
@misc{cbd_cpi_canada,
author = {CentralBankData.com},
title = {Canada Consumer Price Inflation Rate},
note = {Compiled from Bank for International Settlements WS_LONG_CPI:M:CA:771},
year = {2026},
url = {https://centralbankdata.com/canada-inflation-rate}
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