The Consumer Price Index (CPI), released this morning by Statistics Canada on October 21, 2025, shows a 2.4% increase in September compared to the same time last year, up from 1.9% in August. This acceleration is mainly due to a less pronounced decline in gasoline prices (-4.1% in September versus -12.7% in August), rising grocery costs (+4.0%), and a smaller decrease in the cost of travel tours (-1.3%).
Excluding gasoline, the CPI rose by 2.6% year over year, up from 2.4% in August.
On a month-to-month basis, the CPI increased by 0.1% in September (or 0.4% on a seasonally adjusted basis).
It is also worth noting that rent growth continued to accelerate nationally (+4.8%), particularly in Quebec, where it reached +9.6%, especially in Montreal.
