Canada’s common Consumer Price Index (CPI) edged down to 2.6% year-over-year in August 2026, from 2.7% in July 2026, according to data updated on 14 September 2026. The common CPI measure compares price changes in each month against the same month a year earlier.
The slight cooling in August suggests a modest easing in underlying inflation pressures compared with July, when the indicator had held at 2.7% on a year-over-year basis. While the change is incremental, it may be closely watched by markets and policymakers as they assess the trajectory of Canadian inflation moving into the latter part of 2026.
