Consumer Price Index, March 2026
Released: 2026-04-20
The Consumer Price Index (CPI) increased 2.4% year over year in March, up from an increase of 1.8% in February.
Driving faster price growth in headline inflation were higher prices for energy, especially gasoline, due to the conflict in the Middle East. Excluding gasoline, the CPI rose at a slower pace year over year in March (+2.2%) compared with February (+2.4%).
There remained lingering base-year effects from the GST/HST break which ran from December 2024 to February 2025, resulting in downward pressure on headline inflation in March 2026.
The CPI was up 0.9% month over month in March. On a seasonally adjusted monthly basis, the CPI increased 0.5%.
Chart 1
The 12-month change in the Consumer Price Index (CPI) and CPI excluding gasoline
Chart 2
Higher prices in the transportation component contribute to faster growth in the all-items Consumer Price Index
Higher energy prices drive up inflation
Energy prices rose 3.9% on a year-over-year basis in March, after decreasing 9.3% in February. On a monthly basis, energy prices rose 13.1% in March.
Higher prices for gasoline were the primary driver of the year-over-year acceleration in the CPI, as consumers paid 5.9% more for gasoline in March than they did in the same month the previous year. Prices surged 21.2% on a monthly basis, the largest price increase for gasoline on record, due to the supply shock resulting from the conflict in the Middle East. However, this monthly effect was muted on a year-over-year basis due to the comparison with prices from March 2025, which included the since-removed consumer carbon levy. The removal of the consumer carbon levy will no longer impact the 12-month movement as of April 2026, and this will be reflected in next month's CPI release.
On a year-over-year basis, consumers paid more for fuel oil and other fuels (+26.1%) in March compared with February due to higher oil prices resulting from the conflict in the Middle East.
Moderating the acceleration in energy prices were lower prices for natural gas (-18.1%), which are largely dependent on North American supply and therefore more insulated from global price changes.
Infographic 1
Gasoline prices surge in March
Prices rise for fresh vegetables year over year
Prices for food purchased from stores rose 4.4% on a yearly basis in March, after increasing 4.1% in February.
On a year-over-year basis, prices for fresh vegetables increased 7.8% in March, the largest increase since August 2023 (+8.7%), after rising 0.5% in February. Cucumbers, peppers and celery all had notable price growth in March, due in part to tighter supplies related to adverse growing conditions in producing countries.
Slower price growth from the final base-year effect of the GST/HST break
Prices rose for consumers on a number of products and services in March 2025 with the full reintroduction of the GST/HST, following the temporary GST/HST break from December 2024 to February 2025. This increase fell out of the 12-month movement of the CPI in March 2026, putting downward pressure on the CPI.
Prices for food purchased from restaurants continued to grow year over year at a slower pace. After increasing 7.8% in February, prices rose 3.2% in March due to a base-year effect.
Slower growth for alcoholic beverages purchased from stores (+2.0%) and toys, games (excluding video games) and hobby supplies (+1.5%) also contributed to the downward pressure in March.
Infographic 2
Slower price growth for food purchased from restaurants due to a base-year effect from the end of the GST/HST break
The GST/HST break
The prices included in the Consumer Price Index (CPI) are final prices, inclusive of all excise and other taxes paid by consumers. In particular, prices include the Goods and Services Tax (GST), provincial retail sales taxes (PST) or the Harmonized Sales Tax (HST), as well as any environmental, liquor and tobacco taxes if applicable. This means that the CPI can change as a result of changes in any of these taxes.
The GST/HST exemption began on December 14, 2024, and ended on February 15, 2025, affecting approximately 10% of the CPI basket.
Resulting base-year effect
The headline consumer inflation is measured as the percentage change between the CPI in the current month (March 2026) and the CPI in a base month or the same calendar month of the previous year (March 2025). A base-year effect refers to the impact that price movements from 12 months earlier have on the current month's headline consumer inflation. When a large 1-month upward price change in the base month stops influencing, or falls out of, the 12-month price movement, this has a downward effect on headline CPI in the current month. Conversely, when a large 1-month downward price change in the base month falls out, this creates upward pressure on the current month's 12-month figure.
March 2026 will be the final month affected by a base-year effect due to the GST/HST break.
Explore the Consumer Price Index tools
Check out the Personal Inflation Calculator. This interactive calculator allows you to enter dollar amounts in the common expense categories to produce a personalized inflation rate, which you can compare with the official measure of inflation for the average Canadian household—the Consumer Price Index (CPI).
Browse the Consumer Price Index Data Visualization Tool to access current (Latest Snapshot of the CPI) and historical (Price trends: 1914 to today) CPI data in a customizable visual format.
Regional highlights
Year over year, prices rose at a faster pace in all provinces in March compared with February. Prices in Quebec accelerated the least, ticking up from a 2.8% increase in February to a 2.9% increase in March, due to slower growth in rent prices.
Chart 3
The Consumer Price Index increases at a faster pace in all provinces
Note to readers
Visit the Consumer Price Index portal to find all Consumer Price Index (CPI) data, publications, interactive tools and announcements highlighting new products and upcoming changes to the CPI in one convenient location.
Real-time data tables
Real-time data table 18-10-0259-01 will be updated on May 4. For more information, consult the document, "Real-time data tables."
Next release
The Consumer Price Index for April will be released on Tuesday, May 19.
Products
The "Consumer Price Index Data Visualization Tool" is available on the Statistics Canada website.
More information on the concepts and use of the Consumer Price Index (CPI) is available in The Canadian Consumer Price Index Reference Paper (62-553-X).
For information on the history of the CPI in Canada, consult the publication Exploring the first century of Canada's Consumer Price Index (62-604-X).
Two videos, "An Overview of Canada's Consumer Price Index (CPI)" and "The Consumer Price Index (CPI) and Your Experience of Price Change," are available on Statistics Canada's YouTube channel.
The podcast ''Eh Sayers Episode 18 - Why Food Inflation Is Such A Hard Nut To Crack'' is also available.
Find out answers to the most common questions posed about the CPI in the context of the COVID-19 pandemic and beyond.
Contact information
For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca) or Media Relations (statcan.mediahotline-ligneinfomedias.statcan@statcan.gc.ca).
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