What drives Canadian inflation?

What drives Canadian inflation? Oil revenues, housing bubbles, and US economic spillover keep Canadian prices in motion. Each row traces a chain of real events that pushed inflation higher or lower, month by month.

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MAR 1 – MAR 31, 2026
🕌 oil price rise
▲ INFLATION
🇮🇷 geopolitical turmoil rise
🌍 oil price rise
▲ INFLATION

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NOV 1 – NOV 30, 2025
manufacturing decline
🌍 oil price decline
▼ INFLATION
🇨🇦 wage rise
▲ INFLATION
OCT 1 – OCT 31, 2025
🇨🇦 recreation, education, and reading inflation rise
▲ INFLATION
🇨🇦 household operations inflation rise
▲ INFLATION
🇨🇦 vegetable price rebound
🇨🇦 grocery inflation rise
🇨🇦 food inflation rise
▲ INFLATION
SEP 1 – SEP 30, 2025
🇨🇦 gasoline price decline moderation
▲ INFLATION
AUG 1 – AUG 31, 2025
🇨🇦 tariff removal
▼ INFLATION
🇨🇦 energy cost decline
▼ INFLATION
🇺🇸 tariff rise
▲ INFLATION
JUN 1 – JUN 30, 2025
🇨🇦 carbon tax removal
▼ INFLATION
MAY 1 – MAY 31, 2025
🇨🇦 carbon tax cut
▼ INFLATION
🇨🇦 energy cost decline
▼ INFLATION
APR 1 – APR 30, 2025
🇨🇦 retail sales rise
▲ INFLATION
MAR 1 – MAR 31, 2025
🇺🇸 tariff imposition
▲ INFLATION
🇨🇦 sales tax holiday end
▲ INFLATION
🇨🇦 sales tax holiday expiration
▲ INFLATION
🇨🇦 tax credit end
▲ INFLATION

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FEB 1 – FEB 28, 2025
🇺🇸 tariff rise
🌍 oil price rise
▲ INFLATION
🌍 natural gas price rise
▲ INFLATION
🌍 gas cost rise
▲ INFLATION
🇺🇸 tariff expectation
▲ INFLATION
JAN 1 – JAN 31, 2025
🇨🇦 tax break
▼ INFLATION
NOV 1 – NOV 30, 2024
🇨🇦 PMI reading strength
▲ INFLATION
🇨🇦 unemployment data resilience
▲ INFLATION
🇨🇦 retail sales rise
▲ INFLATION
OCT 1 – OCT 31, 2024
🇨🇦 interest rate cut
▼ INFLATION
🛢️ oil production expectation rise
🌍 oil price decline
▼ INFLATION
🇨🇦 interest rate decline
▼ INFLATION
SEP 1 – SEP 30, 2024
🇨🇦 petrol price decline
▼ INFLATION
🇨🇦 supply rise
▼ INFLATION
AUG 1 – AUG 31, 2024
🇨🇦 wage rise
▲ INFLATION
JUL 1 – JUL 31, 2024
🌍 gasoline price decline
▼ INFLATION
🇨🇦 factory activity decline
🇨🇦 manufacturing decline
🇨🇦 interest rate cut
▼ INFLATION
MAY 1 – MAY 31, 2024
🇨🇦 wage rise
▲ INFLATION
🇨🇦 input cost rise
▲ INFLATION
APR 1 – APR 30, 2024
🇨🇦 insurance cost rise
▲ INFLATION
🇨🇦 wage rise
▲ INFLATION
JAN 1 – JAN 31, 2024
🇨🇦 gas cost rise
▲ INFLATION

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