Canada'S Current Inflation Rate 2024. The bank projects that inflation will stay around 3% into the second quarter of 2024, ease below 2.5% in the second half of the year and return to target in 2025. Canada's central bank has decreased its policy interest rate by 0.25 percent, bringing it down to 4.75 percent.
Canada’s economy gained the most jobs in four months, but slowing wage growth points to further easing of inflation. Monetary policy is working to reduce inflationary pressures and inflation is coming down, although it will take more time to see if this progress proves durable.