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Inflation Rate In 2024 Canada. Canada's inflation rate dropped lower than expected in january — to 2.9 per cent from 3.4 per cent in december, but many consumers say they're still feeling financial pain. Inflation rate in canada is expected to be 2.40 percent by the end of this quarter, according to trading economics global macro models and.

Inflation in the third quarter fell by more than expected primarily. Canadian consumers were confronted with higher prices in 2021, including for everyday necessities, such as food (+2.5%), transportation (+7.2%) and shelter (+3.9%).