This inflation calculator shows the impact of inflation on a fixed basket of goods based on the conumer price index (CPI) data from 1914 to present. This fixed “basket” of consumer purchases include food, shelther, furniture, clothing, transportation and recreation.
What is the current inflation rate in Canada?
The current inflation rate in Canada is 1.90% for the previous 12-months as of November 2024 (last updated on December 27th, 2024).
The Bank of Canada aims to keep inflation at 2.00% which is the midpoint of the inflation-control target of 1.00% to 3.00% which is expressed as the year-over-year increase of the consumer price index (CPI).
Since the inflation rate is based on the price changes in the consumer price index (CPI) basket of goods the inflation rate can be broken down by categories such as food, shelter, houshold, clothing and transportation to understand what makes up the current inflation rate.
Here is an overview of the current inflation rate in Canada
| Category | Inflation Rate |
|---|---|
| Food | 2.80% |
| Shelter | 4.6% |
| Household | -0.70% |
| Clothing | -3.80% |
| Transportation | 1.10% |
| CPI Trim | 2.70% |
| CPI Median | 2.60% |
| Health | 2.80% |
| Recreation | -0.90% |
| Energy | -1.40% |