Canada Inflation Rate

Last Release

May 31, 2025

Actual

1.7

Units In

1.7

Frequency

Monthly

Next Release

Jul 15, 2025

Time to Release

19 Days 12 Hours

Highest	Lowest	Average	Date Range	Source
21.6 Jun 1920	-17.8 Jun 1921	3.14 %	1915-2025	Statistics Canada

In Canada, the most important categories in the CPI basket are Shelter (27.5 percent of the total weight) and Transportation (19.3 percent). Food accounts for 16.1 percent; Household Operations, Furnishings and Equipment for 11.8 percent; Recreation, Education and Reading for 11.8 percent; Clothing and Footwear for 5.7 percent; Health and Personal Care for 5 percent; Alcoholic Beverages and Tobacco Products for the remaining 3 percent. The CPI basket is reviewed every four years on the basis of household surveys. The current weights are based on spending patterns in 2009.

Latest Updates

The annual inflation rate in Canada was at 1.7% in May of 2025, remaining unchanged from the previous month, and aligned with market expectations. The inflation rate remained below the Bank of Canada's 2% target for the second straight month, holding the decline from the previous month after the removal of the federal consumer carbon tax. Price growth slowed for shelter (3% vs 3.4% in May) amid softer inflation for rent (4.5% vs 5.2%) and mortgage interest costs (6.2% vs 6.8%), consistent with lower rates by the BoC. Prices also slowed for food (3.4% vs 3.8%). In the meantime, the median and trimmed-mean core rates closely followed by the central bank edged down to 3% from 3.1% last month, in line with expectations, to halt their gradual increase from the year. From the previous month, the Canadian CPI rose by 0.6%, rebounding from the 0.1% decrease in April.