Stats Canada Cost Of Living Increase 2024. Canada inflation rate for 2022 was 6.80%, a 3.41% increase from 2021. This calculator uses monthly consumer price index (cpi) data from 1914 to the present to show changes in the cost of a fixed basket of consumer purchases.
For example, if in one year that basket costs 100 canadian dollars, and the next year the same basket costs 102 dollars, then the average annual inflation rate is two percent. Canadians are feeling the sting of rising prices, especially lower income canadians.