2024 Inflation Rate Canada Average. The current inflation rate in canada is 2.53%, which is calculated based on cpi (consumer price index) values for the last 12 months ending in july 2024. 3.9% (annual change) cpi news.

Canada’s inflation rate is reported on monthly by statistics canada, and fluctuates based on the pace of price growth recorded within the consumer price index. Since the purchasing power of money is affected by changes in prices, the cpi is useful to virtually all canadians.