Canada’s core Consumer Price Index (CPI) rose 0.2% month-over-month in July 2026, a modest acceleration from the 0.1% increase recorded in June 2026. The data, updated on 17 August 2026, indicate a slight firming in underlying inflation pressures compared with the prior month.
On a month-over-month basis, the “actual” July figure reflects the change from June to July, while the “previous” reading captures the move from May to June. The uptick from 0.1% to 0.2% suggests that price growth in core categories—typically excluding more volatile components—is picking up, though only gradually.
While the change is incremental, markets and policymakers are likely to watch forthcoming releases closely to assess whether July’s increase marks the beginning of a more persistent upward trend in core inflation or simply a minor month-to-month fluctuation.
