Monthly release · Not seasonally adjusted
Canada’s CPI for September 2026
Consumer prices rose 3.1% in the 12 months to September 2026 and +0.1% from the month before. The Bank of Canada’s preferred core measures were 1.8% (CPI-trim) and 1.9% (CPI-median) for September 2026. The policy rate is 2.50%.
Reference month September 2026 · Released October 19, 2026
The numbers at a glance
12-month change (headline inflation)
+3.1%
+3.0% the month before
Change from last month
+0.1%
Not seasonally adjusted
CPI level (2002=100)
170.0
All-items, Canada
Excluding food and energy
+2.1%
12-month change
CPI-trim
1.8%
Bank of Canada core measure, September 2026
CPI-median
1.9%
Bank of Canada core measure, September 2026
Policy interest rate
2.50%
In effect from October 29, 2026
Inflation over the last six years
Source: Statistics Canada, table 18-10-0004-01 (monthly CPI, latest September 2026, released October 19, 2026); Bank of Canada Valet API (policy rate V39079; CPI-trim, CPI-median, CPI-common). Retrieved October 30, 2026. Headline and ex-food-and-energy changes are calculated from the published index levels and rounded to one decimal. Core measures are as published by the Bank of Canada. Policy rate as of October 29, 2026.
Major components
12-month change by category
| Transportation | +8.4% |
| Recreation, education and reading | +4.6% |
| Food | +2.2% |
| Shelter | +1.8% |
| Clothing and footwear | +1.7% |
| Health and personal care | +1.7% |
| Alcohol, tobacco and cannabis | +1.6% |
| Household operations, furnishings and equipment | +0.4% |
Provinces
12-month change by province
| Prince Edward Island | +5.7% |
| Nova Scotia | +5.6% |
| New Brunswick | +5.0% |
| Newfoundland and Labrador | +4.7% |
| Manitoba | +4.4% |
| Alberta | +3.6% |
| Saskatchewan | +3.3% |
| Quebec | +3.1% |
| British Columbia | +3.0% |
| Ontario | +2.5% |
Bank of Canada
Recent policy rate changes
The Bank raises or lowers its policy rate to keep CPI inflation near the 2% midpoint of its 1% to 3% target range. Dates are the first business day the new target appears in the Bank’s daily series.
| In effect from | Policy rate |
|---|---|
| October 29, 2026 | 2.50% |
| October 30, 2025 | 2.25% |
| September 18, 2025 | 2.50% |
| March 13, 2025 | 2.75% |
| January 30, 2025 | 3.00% |
| December 12, 2024 | 3.25% |
| October 24, 2024 | 3.75% |
| September 5, 2024 | 4.25% |
| July 25, 2024 | 4.50% |
| June 6, 2024 | 4.75% |
Source: Bank of Canada Valet API (policy rate V39079; CPI-trim, CPI-median, CPI-common). Retrieved October 30, 2026. Series V39079, target for the overnight rate, business daily.
Straight answers
Questions people ask
When is the CPI released?
Statistics Canada publishes the CPI once a month, usually in the third week of the following month, at 8:30 a.m. Eastern time. The release schedule is on Statistics Canada’s website. This page is rebuilt from the data after each release.
What is the difference between the 12-month and monthly change?
The 12-month change compares this month with the same month last year, which removes regular seasonal swings; it is the headline inflation rate. The monthly change compares with the previous month and is affected by seasonal patterns, because the CPI on this page is not seasonally adjusted.
What are CPI-trim and CPI-median?
They are the Bank of Canada’s preferred measures of core inflation. CPI-trim removes the components with the most extreme price changes each month; CPI-median takes the price change in the middle of the distribution. Both aim to show the underlying trend without one-off swings.
Educational information, not financial advice. Read how the CPI and these tools work.
