Forex

Canadian Inflation Holds Steady at 3%, Gas Prices Continue to Climb

Guavy AI Editorial Team Published September 14, 2026

Instruments

CAD

Canada's annual inflation growth rate remained steady at 3% in August, according to data released on Monday. This marks no change from July's inflation rate. The continued strength of crude prices is contributing to higher gasoline costs, while food prices have eased only moderately.

The Consumer Price Index (CPI) fell 0.1% month over month in August but rose 0.2% on a seasonally adjusted monthly basis. Year-over-year, the CPI rose 3.0%, matching July's increase. The slowdown in gasoline price growth was offset by higher prices for travel tours and rent.

Analysts polled by Reuters had forecast an annual inflation rate of 3% and no change month over month. Benchmark Brent crude crossed $100 per barrel this month, which could further strengthen next month's CPI data. The impact of President Donald Trump's new 50% tariffs and Canada's retaliatory measures on costs has yet to be fully felt.

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