Inflation Rate and Consumer Price Index
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Canadian inflation rate

Canada inflation summary for January 2024

Updated: February 20, 2024
Next update: March 19, 2024

Current Canada inflation rate

January 2024
2.9%
The Consumer Price Index for Canada is 158.3 for the month of January 2024. The inflation rate year over year is 2.9% (compared to 0.0% for the previous month). Inflation from December 2023 to January 2024 was 0.0%.

Previous Canada Inflation Rate

December 2023 to January 2024
0.0%

Month-to-Month Canada Inflation Rate

December 2023
0.0%

Recent inflation rates for Canada

YearjanfebmaraprmayjunjulaugsepoctnovdecAnnual
20242.9%
20235.9%5.2%4.3%4.4%3.4%2.8%3.3%4.0%3.8%3.1%3.1%3.4%3.9%
20225.1%5.7%6.7%6.8%7.7%8.1%7.6%7.0%6.9%6.9%6.8%6.3%6.8%
20211.0%1.1%2.2%3.4%3.6%3.1%3.7%4.1%4.4%4.7%4.7%4.8%3.4%
20202.4%2.2%0.9%-0.2%-0.4%0.7%0.1%0.1%0.5%0.7%1.0%0.7%0.7%
All inflation rates are calculated using the Canada Consumer Price Index (CPI) series.