Canadian Consumer Price Index Rises 2.4% Year-Over-Year in December
Consumer Price Index, December 2025
On Monday, Statistics Canada (StatCan) reported that the Canadian Consumer Price Index (CPI) rose 2.4% year-over-year in December 2025, up from a 2.2% increase in November.
On a month-over-month basis, the CPI declined 0.2%. Seasonally adjusted, the index increased 0.3%.
The year-over-year acceleration in the all-items CPI was driven by the temporary Goods and Services Tax (GST) and Harmonized Sales Tax (HST) break that began on December 14, 2024. As the exempt goods and services that saw monthly price declines during the tax holiday dropped out of the 12-month comparison, this put upward pressure on headline CPI growth.
Moderating the acceleration in headline inflation was a year-over-year decline in gasoline prices. Excluding gasoline, the CPI rose 3.0% year-over-year, following a 2.6% increase in November.
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