2024 Inflation Rate Canada By Month. The annual inflation rate in canada fell to 2.5% in july of 2024 from 2.7% in the previous month, matching market expectations, to mark the softest increase in consumer prices since march of 2021. Below are the dates for the monthly consumer price index (cpi) releases.

Economic growth in canada is forecast to improve in the second half of 2024 and strengthen further in 2025 and 2026. The current inflation rate in canada is 1.64%, which is calculated based on cpi (consumer price index) values for the last 12 months ending in september 2024.