Inflation Rate 2024 Canada 2024. An analysis of the 2024 consumer price index basket update, based on 2023 expenditures. Canada inflation rate for 2020 was 0.72% , a 1.23% decline from 2019.

Inflation and interest rates still weigh on consumer demand. An inflation rate of 1.15% per year means $1 in 2023 is worth $1.01 in 2024.