FX.co ★ Canada’s Median CPI Eases to 1.9% in September, Slipping Below August Pace

Canada’s median CPI inflation edged down to 1.9% year-over-year in September 2026, easing slightly from 2.0% in August 2026, according to data updated on 19 October 2026. The indicator, which compares price changes in September to the same month a year earlier, suggests that underlying inflation pressures continued to moderate heading into the autumn.

The September reading marks a small but notable move below the 2.0% level recorded in August, on a year-over-year basis, reinforcing the picture of a gradual cooling in core price dynamics. The previous figure also reflected a year-over-year comparison, measuring August 2026 against August 2025, while the latest data compares September 2026 with September 2025.

Median CPI is closely watched because it strips out more volatile components of the price basket, offering a clearer view of underlying inflation trends. The latest figures may play into ongoing discussions about the balance between inflation control and supporting economic activity, as policymakers and markets assess how firmly inflation is converging toward target levels.