The Canadian Index

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Bar chart of Canada's monthly net employment change from September 2025 to August 2026, with the August 2026 bar showing a decline.

Employment fell in four of the twelve months shown and averaged a gain of about 18,000 a month, so the August loss stands out within a mostly positive year. The unemployment rate was 6.4% in August, and average hourly wages rose 2.0% from a year earlier, slower than headline inflation. A weakening labour market is one side of the debate over a rate increase at the Bank of Canada's October 28 meeting.

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 Canadian headline CPI with CPI-trim and CPI-median core inflation, year over year, from August 2025 to August 2026.

A year earlier the relationship ran the other way, with headline inflation sitting about a point below the CPI-trim core measure.

Canada Headline CPI Against Bank of Canada Core Measures, August 2026

October 6, 2026

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Line chart of Canada's annual consumer price inflation rate by month from July 2025 to August 2026.

Headline inflation sits at the top of the Bank of Canada's inflation control range, while core measures remain well below that ceiling, so…

Canada Consumer Price Index Inflation, Year Over Year, July 2025 to August 2026

September 29, 2026

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Chart comparing the Bank of Canada and US Federal Reserve policy rates with a 137 basis point gap between them.

Canada added 75,100 jobs in July against a forecast near 16,500, while the United States lost 23,000 against an expected gain of 83,000, both released the same Friday morning.

Canada and the US Got Opposite Jobs Surprises, and the BoC-Fed Rate Gap Didn't Budge

August 7, 2026

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Line chart showing the Government of Canada five-year bond yield climbing through August and September.

Canadian headline inflation held at 3.0 percent year over year in August, matching July, but the underlying number worsened: inflation…

The Bond Market Already Moved Before the Bank of Canada Has To

September 21, 2026

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Chart comparing the Bank of Canada's overnight rate, held at 2.25 percent, against inflation surprises from September 2025 to July 2026.

Canada's second-quarter GDP grew at an annualized 3.4%, well above the Bank of Canada's 2.5% forecast, while unemployment fell to 6.4% in…

Canada's Own Numbers Argue for a Hike. The Bank Will Hold Anyway.

August 24, 2026

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Line chart comparing Canada's headline and core Consumer Price Index inflation rates through July 2026.

Canadian headline inflation accelerated to 3.0% in July, up from 2.8% in June and above consensus, driven mainly by energy prices as…

Canada's Inflation Print Just Complicated the Bank of Canada's September Calculus, and the Fed Isn't Making It Easier

August 20, 2026

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