FX.co ★ Canada’s Core CPI Ticks Up to 2.3% in July, Edging Further Above BoC Target

Canada’s core Consumer Price Index (CPI) accelerated modestly in July 2026, rising 2.3% year-over-year, up from 2.1% in June 2026. The latest data, updated on 17 August 2026, show underlying inflation nudging further above the Bank of Canada’s 2% target.

The figures compare price changes in July 2026 with those in July 2025, while the previous reading compared June 2026 with June 2025. The uptick in the year-over-year core CPI suggests that underlying inflationary pressures have strengthened slightly over the summer period, potentially reinforcing expectations that the central bank will remain cautious about any near-term policy easing.