The Canadian Index

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Line chart of Canada's CPI-trim and CPI-median core inflation from January to August 2026 against the 2% target.

Core inflation, which looks past the most volatile price moves, has drifted down to the Bank of Canada's 2% target. Headline CPI of 3.0% sits above both measures because of energy prices, which is why the central bank's attention is on CPI-trim and CPI-median. That leaves the October 28 decision leaning toward a hold, while a December hike is still priced at 88%.

This chart is presented for general informational purposes only and does not constitute financial, investment, tax, or legal advice. Figures reflect the source and period indicated and may no longer be current.

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Line chart of Canada's headline CPI against the CPI-trim, CPI-median and CPI-common core measures from September 2024 to August 2026.

Headline inflation has pulled away from the Bank of Canada's core measures.

Canada CPI: Headline vs. Core Measures, September 2024 to August 2026

October 16, 2026

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Line chart of the S&P/TSX Composite daily close from September 10 to October 16, 2026, with the 35,000 level in view.

Resource shares drove a week in which Canadian rate markets signalled economic slack.

S&P/TSX Composite Daily Close, September 10 to October 16, 2026

October 16, 2026

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Line chart of Canada's all-items CPI, year over year, from October 2025 to September 2026.

September inflation rose on gasoline while all three Bank of Canada core measures eased, to 2.4% for CPI-common, 1.9% for CPI-median and 1.8% for CPI-trim.

Canada All-Items CPI, October 2025 to September 2026

October 19, 2026

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Line chart tracking the Bank of Canada's overnight rate against Government of Canada 10 year bond yields since 2023.

The Bank of Canada has held its overnight rate at 2.25% for six consecutive meetings through July 2026, after nine cuts since June 2024 brought it down from a 5% peak.

The Bank of Canada Held. The Bond Market Didn't Wait.

August 14, 2026

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Bar chart showing Canada's merchandise trade balance widening to a 3.9 billion dollar surplus in June 2026.

Statistics Canada reported that the country's merchandise trade surplus widened to $3.9 billion in June, the largest monthly surplus in…

Canada's Trade Surplus Widens to a Four-Year High in June

June 1, 2026

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Line chart of Canadian total CPI with CPI-trim, CPI-median and CPI-common core measures, July 2025 to August 2026.

Three Bank of Canada core measures, trim, median and common, are shown against total CPI.

Canada CPI Against Bank of Canada Core Measures, July 2025 to August 2026

October 9, 2026

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