# Canada's consumer prices rise 3.1% on the year in September as gasoline climbs 27.8%

> Statistics Canada reports CPI inflation at 3.1% in September, up from 3.0% in August. Gasoline prices rose 27.8% on the year, while CPI excluding gasoline eased to 2.2%.

- Canonical URL: https://forextradingcommunity.com/news/canada-cpi-3-1-percent-september-2026/
- Type: Data
- Published: 2026-10-23
- Updated: 2026-10-23
- Publisher: Forex Trading Community (https://forextradingcommunity.com), FTC Editorial Team
- Currencies: CAD

Statistics Canada reported on 19 October 2026 that the consumer price index rose 3.1% on the year in September, up from 3.0% in August. On the month the index rose 0.1%.

## What moved prices

- **Gasoline**: up 27.8% on the year in September, from 22.8% in August
- **CPI excluding gasoline**: 2.2%, down from 2.4% in August
- **Crude oil**: prices rose in September to their highest level since May, Statistics Canada said, amid conflict in the Middle East

The agency attributes the acceleration mainly to gasoline. Excluding gasoline, the rate slowed, so the rise is concentrated in fuel rather than spread across the basket of goods and services.

## Reading it

The Canadian dollar tends to follow oil prices, so a fuel-driven rise in inflation matters for the currency. The Bank of Canada held its policy rate at 2.25% in September ([report](/news/bank-of-canada-holds-2-25-september-2026/)). For oil and the loonie, see [oil prices and the Canadian dollar](/news/oil-prices-and-the-canadian-dollar/). For the earlier figure, see [Canada's August inflation report](/news/canada-cpi-august-2026/).

Live prices: [USD/CAD](/markets/usd-cad/).

## Sources

- [Statistics Canada: The Daily, Consumer Price Index, September 2026, 19 October 2026](https://www150.statcan.gc.ca/n1/daily-quotidien/261019/dq261019a-eng.htm)

## Common questions

### What was Canada's CPI inflation in September 2026?

Statistics Canada reports 3.1% on the year, up from 3.0% in August.

### How much did gasoline prices rise in September 2026?

Gasoline prices were 27.8% higher on the year in September, after 22.8% in August.

### What was CPI excluding gasoline in September 2026?

It was 2.2%, down from 2.4% in August, according to Statistics Canada.

---

This article is for information only and is not financial advice. Trading forex and CFDs carries a high risk of losing money.