Statistics Canada published its Consumer Price Index for August 2026 on Sept. 14. This piece looks at that release.
The headline
The all-items CPI rose 3.0% year over year in August, the same pace as in July. Month over month, the CPI fell 0.1%. On a seasonally adjusted basis, it rose 0.2%.
Gasoline and transportation
Gasoline prices were up 22.8% year over year in August, after a 25.7% increase in July. StatCan said prices "remained elevated." Transportation as a whole rose 7.5%. Excluding gasoline, the CPI rose 2.4% in August, up from 2.2% in July. Gasoline is a large part of why the headline rate sits at 3.0%.
Groceries
Prices for food bought in stores rose 2.8% year over year in August, after 3.1% in July. StatCan noted that this was the first time since July 2024 that grocery prices rose more slowly than the all-items CPI. Dairy led the slowdown, up 0.7% compared with 3.1% in July.
Grocery prices still went up. Only the pace slowed. StatCan also noted that prices for food purchased from stores have increased 29.0% since August 2021.
Rent and the regions
Rent rose 2.8% year over year in August, up from 2.5% in July, driven by Manitoba (+4.3%) and Ontario (+2.4%). Shelter overall was up 1.5%. Prices rose at a faster pace in six provinces. The Atlantic provinces had the highest inflation rates, where fuel oil and other fuels rose 43.7% year over year.
Since then
As of Oct. 9, August is still the latest CPI release. StatCan will publish September's numbers on Monday, Oct. 19.
What would tell you the cost of living is getting easier: a slower yearly rate, or prices actually coming down?
Sources
Statistics Canada, The Daily, Consumer Price Index, August 2026 (Sept. 14, 2026): https://www150.statcan.gc.ca/n1/daily-quotidien/260914/dq260914a-eng.htm
Statistics Canada, Table 18-10-0004-01, Consumer Price Index, monthly: https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000401
Statistics Canada, 2026 release schedule: https://www150.statcan.gc.ca/n1/release-diffusion/2026-eng.pdf