2024 Inflation Rate Canada November. The inflation rate year over year is 2.0% (compared to 2.5% for the previous month). Canada's annual inflation rate held steady at 3.1 per cent in november, matching the previous month's rate, according to data released by statistics canada on tuesday.

The annual inflation rate in canada fell to 1.6% in september of 2024 from 2% in the previous month, the lowest since february of 2021, and well below the market consensus of 1.9%. Monetary policy is working to reduce price pressures in the canadian economy.