Inflation Rate (CPI): Canada
Current Value (2024)
2.4%
All-Time Peak (1981)
12.5%
All-Time Low (1994)
0.2%
Inflation Rate (CPI) — Canada
Analysis# Canada's Inflation Rate Analysis
Canada's inflation peaked at 12.47% in 1981 during the global stagflation crisis, driven by oil shocks and aggressive monetary expansion in the 1970s, before the Bank of Canada's Paul Volcker-style rate hikes restored price stability by the mid-1980s. The 1994 low of 0.17% reflected the deflationary pressures following the severe 1990-92 recession and the strengthening Canadian dollar, establishing the foundation for the inflation-targeting regime that has anchored expectations since 1995. The current 2024 rate of 2.38% sits near the upper bound of the Bank of
Historical Data
| Year | Value | Change % |
|---|---|---|
| 2024 | 2.4% | -38.60% |
| 2023 | 3.9% | -42.98% |
| 2022 | 6.8% | +100.37% |
| 2021 | 3.4% | +373.53% |
| 2020 | 0.7% | -63.22% |
| 2019 | 1.9% | -14.06% |
| 2018 | 2.3% | +42.04% |
| 2017 | 1.6% | +11.77% |
| 2016 | 1.4% | +26.97% |
| 2015 | 1.1% | -40.98% |
| 2014 | 1.9% | +103.20% |
| 2013 | 0.9% | -38.09% |
| 2012 | 1.5% | -47.95% |
| 2011 | 2.9% | +63.89% |
| 2010 | 1.8% | +493.35% |
| 2009 | 0.3% | -87.37% |
| 2008 | 2.4% | +10.84% |
| 2007 | 2.1% | +6.81% |
| 2006 | 2.0% | -9.56% |
| 2005 | 2.2% | +19.18% |
Show all 65 rows
| Year | Value | Change % |
|---|---|---|
| 2004 | 1.9% | -32.67% |
| 2003 | 2.8% | +22.15% |
| 2002 | 2.3% | -10.56% |
| 2001 | 2.5% | -7.15% |
| 2000 | 2.7% | +56.75% |
| 1999 | 1.7% | +74.19% |
| 1998 | 1.0% | -38.57% |
| 1997 | 1.6% | +3.23% |
| 1996 | 1.6% | -26.91% |
| 1995 | 2.1% | +1197.85% |
| 1994 | 0.2% | -91.12% |
| 1993 | 1.9% | +25.16% |
| 1992 | 1.5% | -73.51% |
| 1991 | 5.6% | +17.68% |
| 1990 | 4.8% | -4.08% |
| 1989 | 5.0% | +23.72% |
| 1988 | 4.0% | -7.53% |
| 1987 | 4.4% | +3.85% |
| 1986 | 4.2% | +5.87% |
| 1985 | 4.0% | -7.96% |
| 1984 | 4.3% | -26.58% |
| 1983 | 5.9% | -45.55% |
| 1982 | 10.8% | -13.65% |
| 1981 | 12.5% | +23.13% |
| 1980 | 10.1% | +10.77% |
| 1979 | 9.1% | +1.91% |
| 1978 | 9.0% | +12.50% |
| 1977 | 8.0% | +5.76% |
| 1976 | 7.5% | -29.33% |
| 1975 | 10.7% | -2.96% |
| 1974 | 11.0% | +46.87% |
| 1973 | 7.5% | +50.11% |
| 1972 | 5.0% | +84.41% |
| 1971 | 2.7% | -19.16% |
| 1970 | 3.3% | -26.65% |
| 1969 | 4.6% | +12.48% |
| 1968 | 4.1% | +13.28% |
| 1967 | 3.6% | -6.18% |
| 1966 | 3.8% | +63.58% |
| 1965 | 2.3% | +21.99% |
| 1964 | 1.9% | +17.44% |
| 1963 | 1.6% | +53.37% |
| 1962 | 1.1% | +4.20% |
| 1961 | 1.0% | -25.02% |
| 1960 | 1.4% | — |