Current Inflation Rate 2024 Canada Inflation Rate. Canada inflation rate for 2021 was 3.40%, a 2.68% increase from 2020. Consumer price index inflation in the third quarter of 2024 came in 0.2 percentage points weaker than expected.

Inflation increased to 2.0% in october, up from 1.6% in september, primarily driven by a smaller. But that measure had fallen sharply.