FX.co ★ Canada’s Annual Inflation Ticks Up to 3.1% in September, Ending Recent Cooling Trend

Canada’s consumer price inflation edged higher in September 2026, with the year-over-year Consumer Price Index (CPI) rising to 3.1%, up from 3.0% in August 2026. The latest data, updated on 19 October 2026, indicate a slight acceleration in price growth and mark a pause in the recent easing trend.

Both the current and previous readings are based on year-over-year comparisons, measuring price changes in each month relative to the same month a year earlier. The 3.1% figure for September suggests that inflationary pressures remain persistent, keeping price growth marginally above the August pace and signaling that disinflation may be losing some momentum.

The development will be closely watched by market participants and policymakers, as even small deviations in the annual inflation rate can influence expectations for interest rates, household purchasing power, and the broader economic outlook in Canada.