Canada’s common Consumer Price Index (CPI), a key core inflation gauge, slowed to 2.4% year-over-year in September 2026, down from 2.6% in August 2026. The latest figures, updated on 19 October 2026, indicate a modest easing in underlying price pressures compared with the same month a year earlier.
The common CPI measure compares price changes in September 2026 to those in September of the previous year, while the prior reading measured August 2026 against August a year earlier. The step down from 2.6% to 2.4% suggests that the underlying inflation trend may be gradually cooling, which could influence expectations around the Bank of Canada’s future policy stance.
The year-over-year comparison framework highlights that, although inflation remains present in the Canadian economy, its core component is showing signs of deceleration. Market participants and policymakers will likely watch upcoming releases closely to assess whether this softer momentum in common CPI persists in the months ahead.