Canada’s median Consumer Price Index (CPI) rose to 2.0% year-over-year in July 2026, slightly higher than the 1.9% annual rate recorded in June 2026. The latest figure, updated on 17 August 2026, indicates a modest firming in underlying inflation pressures.
The median CPI measure compares price changes in July 2026 with those in July 2025, while the previous reading compared June 2026 with June 2025. The uptick suggests that, on a year-over-year basis, core price gains have inched closer to the 2% level often associated with price stability, after remaining marginally below that mark a month earlier.
This gradual move higher in median CPI may be closely watched by market participants and policymakers as they assess whether underlying inflation is stabilizing near 2% or preparing to move in a stronger direction in the coming months.
