Canada’s common Consumer Price Index (CPI) slowed to 2.4% year-over-year in February 2026, down from 2.7% in January 2026, signaling a continued easing in underlying inflation pressures. The latest figure, updated on 16 March 2026, reflects the annual change in prices compared to February a year earlier.
January’s reading had already marked progress in cooling inflation, with the common CPI then comparing prices to January of the previous year. February’s further decline suggests that disinflation is becoming more established, potentially reinforcing expectations that price growth is moving closer to levels more consistent with the Bank of Canada’s inflation objectives.
The year-over-year comparison framework means both the current and previous readings measure how prices have evolved relative to the same month one year earlier, providing investors and policymakers with a clearer view of underlying inflation trends beyond short-term volatility.
