2024 Inflation Canada. The current inflation rate in canada is 2.02%, which is calculated based on cpi (consumer price index) values for the last 12 months ending in october 2024. Inflation in canada remains high but should come down quickly to around 3% in the middle of this year because of lower energy prices, improved supply chains and restrictive.
The annual inflation rate in canada decelerated for the third month to hit 2% in august 2024, the softest since february 2021, slightly below forecasts of 2.1% and reaching the central bank’s target for the first time in over three years. Consumer price index inflation in the third quarter of 2024 came in 0.2 percentage points weaker than expected.