Canada’s annual inflation rate rose to 3.1% in September

By Promit Mukherjee
Reuters
October 19, 2026
Category: Finance & Economics
Region: Canada

Canada’s annual inflation rate rose to 3.1% in September, data showed on Monday, as higher gasoline and diesel prices pushed the ​consumer price index above the Bank of Canada’s upper limit once again after ‌three months. Analysts polled by Reuters had forecast inflation of 3.2% in September, up from 3% in August. The September inflation figure is the last CPI data before the BoC’s monetary policy decision later this month. On a month-on-month basis, ​CPI rose by 0.1% in September from a drop of 0.1% in August, Statistics ​Canada said. BoC Governor Tiff Macklem has said that new forecasts that will ⁠be released alongside the rates decision will show higher inflation in Canada. The higher CPI was ​largely driven by a 19% rise in energy prices on an annual basis, following a 15.4% ​rise in August. 

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