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Consumer Price Index (CPI), all-items excluding the effect of indirect taxes, Canada

(SC_18100256_112593704)
Observations
Sep 2026: 169.6
Updated: 2026-11-02, 8:30:28 a.m. ET
Units
Index,
Frequency
Monthly
Source
Statistics Canada, Consumer Price Index
Series ID
SC_18100256_112593704
Table 18-10-0256-01
CREDConsumer Price Index (CPI), all-items excluding the effect of indirect taxes, Canada
COVID-19 recessionGlobal Financial CrisisEarly 1990s recession7080901001101201301401501601701801989199319972001200520092013201720212026Index1989-01-01: 75.21989-02-01: 75.71989-03-01: 76.11989-04-01: 76.31989-05-01: 76.81989-06-01: 76.91989-07-01: 77.41989-08-01: 77.51989-09-01: 77.61989-10-01: 77.91989-11-01: 78.11989-12-01: 78.11990-01-01: 78.61990-02-01: 79.11990-03-01: 79.41990-04-01: 79.41990-05-01: 79.71990-06-01: 801990-07-01: 80.31990-08-01: 80.41990-09-01: 80.61990-10-01: 81.31990-11-01: 81.91990-12-01: 81.81991-01-01: 82.81991-02-01: 82.81991-03-01: 82.61991-04-01: 82.61991-05-01: 82.71991-06-01: 83.11991-07-01: 83.21991-08-01: 83.31991-09-01: 831991-10-01: 82.91991-11-01: 83.31991-12-01: 82.91992-01-01: 83.21992-02-01: 83.21992-03-01: 83.51992-04-01: 83.61992-05-01: 83.61992-06-01: 83.81992-07-01: 841992-08-01: 83.91992-09-01: 83.91992-10-01: 841992-11-01: 84.41992-12-01: 84.41993-01-01: 84.71993-02-01: 851993-03-01: 84.91993-04-01: 84.91993-05-01: 85.11993-06-01: 851993-07-01: 85.21993-08-01: 85.31993-09-01: 85.31993-10-01: 85.51993-11-01: 85.81993-12-01: 85.71994-01-01: 85.71994-02-01: 86.11994-03-01: 86.11994-04-01: 86.11994-05-01: 861994-06-01: 86.21994-07-01: 86.51994-08-01: 86.61994-09-01: 86.71994-10-01: 86.51994-11-01: 871994-12-01: 87.11995-01-01: 87.41995-02-01: 87.81995-03-01: 87.91995-04-01: 88.21995-05-01: 88.41995-06-01: 88.41995-07-01: 88.61995-08-01: 88.41995-09-01: 88.51995-10-01: 88.41995-11-01: 88.71995-12-01: 88.51996-01-01: 88.61996-02-01: 88.71996-03-01: 89.21996-04-01: 89.41996-05-01: 89.71996-06-01: 89.71996-07-01: 89.71996-08-01: 89.71996-09-01: 89.81996-10-01: 901996-11-01: 90.41996-12-01: 90.31997-01-01: 90.51997-02-01: 90.71997-03-01: 90.81997-04-01: 90.81997-05-01: 90.91997-06-01: 91.11997-07-01: 91.11997-08-01: 91.21997-09-01: 91.21997-10-01: 91.21997-11-01: 91.11997-12-01: 911998-01-01: 91.41998-02-01: 91.51998-03-01: 91.61998-04-01: 91.51998-05-01: 91.81998-06-01: 91.91998-07-01: 91.91998-08-01: 91.91998-09-01: 91.71998-10-01: 92.11998-11-01: 92.11998-12-01: 91.81999-01-01: 921999-02-01: 92.11999-03-01: 92.51999-04-01: 931999-05-01: 93.21999-06-01: 93.41999-07-01: 93.71999-08-01: 93.91999-09-01: 94.21999-10-01: 94.31999-11-01: 94.11999-12-01: 94.22000-01-01: 942000-02-01: 94.62000-03-01: 95.32000-04-01: 952000-05-01: 95.42000-06-01: 962000-07-01: 96.32000-08-01: 96.22000-09-01: 96.62000-10-01: 96.82000-11-01: 97.12000-12-01: 97.22001-01-01: 96.82001-02-01: 97.32001-03-01: 97.62001-04-01: 98.22001-05-01: 992001-06-01: 99.12001-07-01: 98.82001-08-01: 98.82001-09-01: 992001-10-01: 98.52001-11-01: 97.52001-12-01: 97.72002-01-01: 97.92002-02-01: 98.52002-03-01: 99.12002-04-01: 99.62002-05-01: 99.82002-06-01: 99.92002-07-01: 100.32002-08-01: 100.72002-09-01: 100.72002-10-01: 1012002-11-01: 101.32002-12-01: 100.92003-01-01: 101.82003-02-01: 102.62003-03-01: 102.92003-04-01: 102.22003-05-01: 102.32003-06-01: 102.32003-07-01: 102.42003-08-01: 102.72003-09-01: 102.92003-10-01: 102.62003-11-01: 102.92003-12-01: 1032004-01-01: 103.12004-02-01: 103.32004-03-01: 103.62004-04-01: 103.82004-05-01: 104.72004-06-01: 104.82004-07-01: 104.72004-08-01: 104.52004-09-01: 104.72004-10-01: 104.92004-11-01: 105.32004-12-01: 105.12005-01-01: 1052005-02-01: 105.42005-03-01: 1062005-04-01: 106.32005-05-01: 106.42005-06-01: 106.62005-07-01: 106.82005-08-01: 107.22005-09-01: 108.12005-10-01: 107.62005-11-01: 107.42005-12-01: 107.32006-01-01: 107.92006-02-01: 107.72006-03-01: 108.32006-04-01: 108.92006-05-01: 109.42006-06-01: 109.22006-07-01: 109.82006-08-01: 1102006-09-01: 109.42006-10-01: 109.22006-11-01: 109.52006-12-01: 109.72007-01-01: 109.72007-02-01: 110.52007-03-01: 111.42007-04-01: 111.92007-05-01: 112.42007-06-01: 112.12007-07-01: 112.32007-08-01: 1122007-09-01: 112.22007-10-01: 111.82007-11-01: 112.22007-12-01: 112.32008-01-01: 112.72008-02-01: 113.12008-03-01: 113.52008-04-01: 114.42008-05-01: 115.52008-06-01: 116.32008-07-01: 116.72008-08-01: 116.52008-09-01: 116.62008-10-01: 115.42008-11-01: 1152008-12-01: 114.22009-01-01: 113.92009-02-01: 114.72009-03-01: 114.92009-04-01: 114.82009-05-01: 115.62009-06-01: 1162009-07-01: 115.62009-08-01: 115.62009-09-01: 115.62009-10-01: 115.52009-11-01: 116.12009-12-01: 115.72010-01-01: 1162010-02-01: 116.52010-03-01: 116.52010-04-01: 116.92010-05-01: 117.22010-06-01: 117.12010-07-01: 116.92010-08-01: 116.82010-09-01: 1172010-10-01: 117.52010-11-01: 117.62010-12-01: 117.62011-01-01: 117.72011-02-01: 1182011-03-01: 119.32011-04-01: 119.72011-05-01: 120.52011-06-01: 119.72011-07-01: 119.92011-08-01: 120.22011-09-01: 120.52011-10-01: 120.72011-11-01: 120.82011-12-01: 120.12012-01-01: 120.42012-02-01: 120.92012-03-01: 121.42012-04-01: 121.92012-05-01: 121.82012-06-01: 121.32012-07-01: 121.22012-08-01: 121.52012-09-01: 121.72012-10-01: 121.92012-11-01: 121.62012-12-01: 120.92013-01-01: 1212013-02-01: 122.42013-03-01: 122.62013-04-01: 122.52013-05-01: 122.82013-06-01: 122.82013-07-01: 122.92013-08-01: 122.92013-09-01: 123.12013-10-01: 122.82013-11-01: 122.82013-12-01: 122.52014-01-01: 122.92014-02-01: 123.82014-03-01: 124.52014-04-01: 124.92014-05-01: 125.52014-06-01: 125.52014-07-01: 125.32014-08-01: 125.32014-09-01: 125.42014-10-01: 125.52014-11-01: 1252014-12-01: 124.22015-01-01: 123.92015-02-01: 1252015-03-01: 125.92015-04-01: 125.82015-05-01: 126.52015-06-01: 126.82015-07-01: 126.92015-08-01: 126.92015-09-01: 126.72015-10-01: 126.92015-11-01: 126.72015-12-01: 126.12016-01-01: 126.42016-02-01: 126.72016-03-01: 127.52016-04-01: 127.92016-05-01: 128.42016-06-01: 128.72016-07-01: 128.42016-08-01: 128.32016-09-01: 128.42016-10-01: 128.62016-11-01: 128.12016-12-01: 127.92017-01-01: 1292017-02-01: 129.22017-03-01: 129.42017-04-01: 129.92017-05-01: 129.92017-06-01: 129.92017-07-01: 129.92017-08-01: 129.92017-09-01: 130.22017-10-01: 130.32017-11-01: 130.82017-12-01: 130.22018-01-01: 131.12018-02-01: 131.92018-03-01: 132.22018-04-01: 132.62018-05-01: 132.72018-06-01: 132.92018-07-01: 133.62018-08-01: 133.52018-09-01: 1332018-10-01: 133.42018-11-01: 132.82018-12-01: 132.82019-01-01: 1332019-02-01: 133.92019-03-01: 134.82019-04-01: 135.12019-05-01: 135.82019-06-01: 135.52019-07-01: 136.32019-08-01: 1362019-09-01: 135.42019-10-01: 135.92019-11-01: 135.72019-12-01: 135.72020-01-01: 1362020-02-01: 136.72020-03-01: 135.82020-04-01: 134.92020-05-01: 135.22020-06-01: 136.32020-07-01: 136.42020-08-01: 136.12020-09-01: 1362020-10-01: 136.62020-11-01: 136.82020-12-01: 136.52021-01-01: 137.42021-02-01: 138.12021-03-01: 138.72021-04-01: 139.22021-05-01: 139.92021-06-01: 140.32021-07-01: 141.12021-08-01: 141.52021-09-01: 141.82021-10-01: 142.82021-11-01: 1432021-12-01: 142.92022-01-01: 144.22022-02-01: 145.62022-03-01: 147.72022-04-01: 148.62022-05-01: 150.72022-06-01: 151.62022-07-01: 151.92022-08-01: 151.32022-09-01: 151.42022-10-01: 152.62022-11-01: 152.82022-12-01: 151.82023-01-01: 152.72023-02-01: 153.32023-03-01: 154.12023-04-01: 1552023-05-01: 155.62023-06-01: 155.72023-07-01: 156.62023-08-01: 157.22023-09-01: 1572023-10-01: 157.22023-11-01: 157.42023-12-01: 156.82024-01-01: 156.82024-02-01: 157.42024-03-01: 158.32024-04-01: 158.92024-05-01: 159.82024-06-01: 159.62024-07-01: 160.42024-08-01: 1602024-09-01: 159.42024-10-01: 160.12024-11-01: 160.12024-12-01: 160.22025-01-01: 160.82025-02-01: 161.92025-03-01: 161.72025-04-01: 162.52025-05-01: 163.52025-06-01: 163.62025-07-01: 1642025-08-01: 163.92025-09-01: 164.12025-10-01: 164.52025-11-01: 164.62025-12-01: 164.22026-01-01: 164.12026-02-01: 1652026-03-01: 166.52026-04-01: 167.42026-05-01: 169.22026-06-01: 168.62026-07-01: 169.42026-08-01: 169.42026-09-01: 169.6
Source: Statistics Canada, Consumer Price Index via CRED
Shaded areas indicate Canadian recessions (C.D. Howe Institute).
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Notes

Source: Statistics Canada

Release: Consumer Price Index

Units: Index

Frequency: Monthly

Notes: Consumer Price Index (CPI), all-items excluding the effect of indirect taxes. From the Consumer Price Index (Statistics Canada), table 18-10-0256-01. Expressed in index; published monthly.

Suggested Citation: Statistics Canada, Consumer Price Index (CPI), all-items excluding the effect of indirect taxes, Canada SC_18100256_112593704, retrieved from CRED, Canadian Research Economic Data; https://cred.nshipyard.com/series/SC_18100256_112593704, November 2, 2026.

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CREDConsumer Price Index, All-items
COVID-19 recession130135140145150155160165170175201620182020202220242026Index, 2002=1002016-10-01: 129.12016-11-01: 128.62016-12-01: 128.42017-01-01: 129.52017-02-01: 129.72017-03-01: 129.92017-04-01: 130.42017-05-01: 130.52017-06-01: 130.42017-07-01: 130.42017-08-01: 130.52017-09-01: 130.82017-10-01: 130.92017-11-01: 131.32017-12-01: 130.82018-01-01: 131.72018-02-01: 132.52018-03-01: 132.92018-04-01: 133.32018-05-01: 133.42018-06-01: 133.62018-07-01: 134.32018-08-01: 134.22018-09-01: 133.72018-10-01: 134.12018-11-01: 133.52018-12-01: 133.42019-01-01: 133.62019-02-01: 134.52019-03-01: 135.42019-04-01: 1362019-05-01: 136.62019-06-01: 136.32019-07-01: 1372019-08-01: 136.82019-09-01: 136.22019-10-01: 136.62019-11-01: 136.42019-12-01: 136.42020-01-01: 136.82020-02-01: 137.42020-03-01: 136.62020-04-01: 135.72020-05-01: 136.12020-06-01: 137.22020-07-01: 137.22020-08-01: 1372020-09-01: 136.92020-10-01: 137.52020-11-01: 137.72020-12-01: 137.42021-01-01: 138.22021-02-01: 138.92021-03-01: 139.62021-04-01: 140.32021-05-01: 1412021-06-01: 141.42021-07-01: 142.32021-08-01: 142.62021-09-01: 142.92021-10-01: 143.92021-11-01: 144.22021-12-01: 1442022-01-01: 145.32022-02-01: 146.82022-03-01: 148.92022-04-01: 149.82022-05-01: 151.92022-06-01: 152.92022-07-01: 153.12022-08-01: 152.62022-09-01: 152.72022-10-01: 153.82022-11-01: 1542022-12-01: 153.12023-01-01: 153.92023-02-01: 154.52023-03-01: 155.32023-04-01: 156.42023-05-01: 1572023-06-01: 157.22023-07-01: 158.12023-08-01: 158.72023-09-01: 158.52023-10-01: 158.62023-11-01: 158.82023-12-01: 158.32024-01-01: 158.32024-02-01: 158.82024-03-01: 159.82024-04-01: 160.62024-05-01: 161.52024-06-01: 161.42024-07-01: 162.12024-08-01: 161.82024-09-01: 161.12024-10-01: 161.82024-11-01: 161.82024-12-01: 161.22025-01-01: 161.32025-02-01: 1632025-03-01: 163.52025-04-01: 163.42025-05-01: 164.32025-06-01: 164.42025-07-01: 164.92025-08-01: 164.82025-09-01: 164.92025-10-01: 165.32025-11-01: 165.42025-12-01: 1652026-01-01: 1652026-02-01: 165.92026-03-01: 167.42026-04-01: 1682026-05-01: 169.62026-06-01: 1692026-07-01: 169.92026-08-01: 169.82026-09-01: 170
Source: Statistics Canada, Consumer Price Index via CRED
Shaded areas indicate Canadian recessions (C.D. Howe Institute).
cred.nshipyard.com

Consumer Price Index, All-items

CREDConsumer Price Index, All-items (Seasonally Adjusted)
COVID-19 recession130135140145150155160165170175201620182020202220242026Index, 2002=1002016-10-01: 129.12016-11-01: 128.92016-12-01: 129.32017-01-01: 130.12017-02-01: 129.92017-03-01: 129.72017-04-01: 130.12017-05-01: 129.92017-06-01: 129.92017-07-01: 130.12017-08-01: 130.42017-09-01: 130.72017-10-01: 130.92017-11-01: 131.72017-12-01: 131.82018-01-01: 132.32018-02-01: 132.62018-03-01: 132.72018-04-01: 132.82018-05-01: 132.92018-06-01: 133.12018-07-01: 133.72018-08-01: 133.92018-09-01: 133.82018-10-01: 134.22018-11-01: 1342018-12-01: 134.32019-01-01: 134.32019-02-01: 134.72019-03-01: 135.22019-04-01: 135.62019-05-01: 1362019-06-01: 135.92019-07-01: 136.42019-08-01: 136.42019-09-01: 136.32019-10-01: 136.72019-11-01: 136.82019-12-01: 137.32020-01-01: 137.52020-02-01: 137.72020-03-01: 136.32020-04-01: 135.62020-05-01: 135.42020-06-01: 136.52020-07-01: 136.52020-08-01: 136.82020-09-01: 137.12020-10-01: 137.52020-11-01: 1382020-12-01: 138.52021-01-01: 139.12021-02-01: 139.42021-03-01: 139.52021-04-01: 139.92021-05-01: 140.32021-06-01: 140.72021-07-01: 141.42021-08-01: 142.32021-09-01: 143.12021-10-01: 143.92021-11-01: 144.52021-12-01: 145.22022-01-01: 146.32022-02-01: 147.32022-03-01: 148.92022-04-01: 149.42022-05-01: 151.12022-06-01: 152.22022-07-01: 152.22022-08-01: 152.12022-09-01: 152.82022-10-01: 153.72022-11-01: 154.32022-12-01: 154.22023-01-01: 154.92023-02-01: 155.12023-03-01: 155.32023-04-01: 156.12023-05-01: 156.22023-06-01: 156.62023-07-01: 157.22023-08-01: 158.32023-09-01: 158.62023-10-01: 158.52023-11-01: 1592023-12-01: 159.42024-01-01: 159.42024-02-01: 159.42024-03-01: 159.82024-04-01: 160.32024-05-01: 160.72024-06-01: 160.82024-07-01: 161.22024-08-01: 161.32024-09-01: 161.22024-10-01: 161.72024-11-01: 1622024-12-01: 162.32025-01-01: 162.52025-02-01: 163.52025-03-01: 163.52025-04-01: 163.12025-05-01: 163.52025-06-01: 163.92025-07-01: 1642025-08-01: 164.32025-09-01: 1652025-10-01: 165.22025-11-01: 165.62025-12-01: 166.12026-01-01: 166.22026-02-01: 166.52026-03-01: 167.32026-04-01: 167.92026-05-01: 168.62026-06-01: 168.52026-07-01: 168.92026-08-01: 169.42026-09-01: 170
Source: Statistics Canada, Consumer Price Index via CRED
Shaded areas indicate Canadian recessions (C.D. Howe Institute).
cred.nshipyard.com

Consumer Price Index, All-items (Seasonally Adjusted)

CREDCPI: Shelter
COVID-19 recession140150160170180190200201620182020202220242026Index, 2002=1002016-10-01: 136.92016-11-01: 137.22016-12-01: 137.32017-01-01: 137.82017-02-01: 137.62017-03-01: 137.72017-04-01: 137.92017-05-01: 137.72017-06-01: 137.82017-07-01: 137.72017-08-01: 1382017-09-01: 138.12017-10-01: 138.62017-11-01: 138.92017-12-01: 139.22018-01-01: 139.72018-02-01: 1402018-03-01: 1402018-04-01: 140.32018-05-01: 140.42018-06-01: 140.52018-07-01: 1412018-08-01: 141.22018-09-01: 141.52018-10-01: 1422018-11-01: 142.32018-12-01: 142.32019-01-01: 1432019-02-01: 143.42019-03-01: 143.82019-04-01: 144.12019-05-01: 144.22019-06-01: 1442019-07-01: 144.32019-08-01: 144.62019-09-01: 144.82019-10-01: 145.72019-11-01: 145.92019-12-01: 146.32020-01-01: 146.42020-02-01: 146.72020-03-01: 146.52020-04-01: 1462020-05-01: 145.62020-06-01: 146.42020-07-01: 146.42020-08-01: 146.82020-09-01: 147.32020-10-01: 148.32020-11-01: 148.72020-12-01: 148.72021-01-01: 148.42021-02-01: 148.82021-03-01: 1502021-04-01: 150.72021-05-01: 151.72021-06-01: 152.82021-07-01: 153.52021-08-01: 153.92021-09-01: 154.42021-10-01: 155.42021-11-01: 155.92021-12-01: 156.82022-01-01: 157.62022-02-01: 158.62022-03-01: 160.22022-04-01: 161.92022-05-01: 1632022-06-01: 163.62022-07-01: 164.22022-08-01: 164.12022-09-01: 164.92022-10-01: 166.22022-11-01: 167.22022-12-01: 167.82023-01-01: 1682023-02-01: 168.32023-03-01: 168.92023-04-01: 169.92023-05-01: 170.62023-06-01: 171.42023-07-01: 172.62023-08-01: 1742023-09-01: 174.82023-10-01: 176.32023-11-01: 177.12023-12-01: 177.82024-01-01: 178.42024-02-01: 179.22024-03-01: 179.92024-04-01: 180.82024-05-01: 181.52024-06-01: 182.12024-07-01: 182.52024-08-01: 183.32024-09-01: 183.52024-10-01: 184.82024-11-01: 185.32024-12-01: 185.82025-01-01: 186.42025-02-01: 186.72025-03-01: 1872025-04-01: 186.92025-05-01: 186.92025-06-01: 187.32025-07-01: 187.92025-08-01: 1882025-09-01: 188.22025-10-01: 189.42025-11-01: 189.62025-12-01: 189.72026-01-01: 189.62026-02-01: 189.52026-03-01: 190.12026-04-01: 190.22026-05-01: 190.12026-06-01: 190.22026-07-01: 190.32026-08-01: 190.92026-09-01: 191.5
Source: Statistics Canada, Consumer Price Index via CRED
Shaded areas indicate Canadian recessions (C.D. Howe Institute).
cred.nshipyard.com

CPI: Shelter

CREDCPI: All-items Excluding Food and Energy
COVID-19 recession125130135140145150155160201620182020202220242026Index, 2002=1002016-10-01: 124.12016-11-01: 124.12016-12-01: 124.42017-01-01: 124.92017-02-01: 124.92017-03-01: 124.92017-04-01: 124.92017-05-01: 125.12017-06-01: 125.32017-07-01: 125.52017-08-01: 125.62017-09-01: 125.62017-10-01: 125.92017-11-01: 126.32017-12-01: 126.52018-01-01: 126.82018-02-01: 127.22018-03-01: 127.22018-04-01: 127.32018-05-01: 127.12018-06-01: 127.52018-07-01: 1282018-08-01: 128.22018-09-01: 128.22018-10-01: 128.52018-11-01: 128.72018-12-01: 129.32019-01-01: 129.12019-02-01: 129.52019-03-01: 129.72019-04-01: 1302019-05-01: 130.42019-06-01: 130.52019-07-01: 130.82019-08-01: 1312019-09-01: 131.12019-10-01: 131.42019-11-01: 131.12019-12-01: 131.42020-01-01: 131.52020-02-01: 1322020-03-01: 131.92020-04-01: 131.72020-05-01: 131.42020-06-01: 131.82020-07-01: 131.52020-08-01: 131.72020-09-01: 1322020-10-01: 132.32020-11-01: 132.82020-12-01: 132.92021-01-01: 133.42021-02-01: 133.32021-03-01: 133.42021-04-01: 1342021-05-01: 134.42021-06-01: 134.72021-07-01: 135.22021-08-01: 135.72021-09-01: 136.12021-10-01: 136.52021-11-01: 136.82021-12-01: 137.42022-01-01: 138.22022-02-01: 138.72022-03-01: 139.62022-04-01: 140.42022-05-01: 141.22022-06-01: 141.92022-07-01: 142.52022-08-01: 142.82022-09-01: 143.52022-10-01: 143.82022-11-01: 144.22022-12-01: 144.72023-01-01: 145.12023-02-01: 145.52023-03-01: 1462023-04-01: 146.52023-05-01: 146.62023-06-01: 146.92023-07-01: 147.42023-08-01: 1482023-09-01: 148.22023-10-01: 148.72023-11-01: 149.32023-12-01: 149.52024-01-01: 149.72024-02-01: 149.62024-03-01: 150.22024-04-01: 150.32024-05-01: 150.82024-06-01: 1512024-07-01: 151.42024-08-01: 151.62024-09-01: 151.82024-10-01: 152.12024-11-01: 152.42024-12-01: 152.82025-01-01: 153.12025-02-01: 153.82025-03-01: 153.82025-04-01: 154.32025-05-01: 154.62025-06-01: 1552025-07-01: 155.12025-08-01: 155.32025-09-01: 155.62025-10-01: 1562025-11-01: 156.12025-12-01: 156.52026-01-01: 156.62026-02-01: 156.82026-03-01: 156.72026-04-01: 156.82026-05-01: 157.22026-06-01: 157.72026-07-01: 158.12026-08-01: 158.52026-09-01: 158.7
Source: Statistics Canada, Consumer Price Index via CRED
Shaded areas indicate Canadian recessions (C.D. Howe Institute).
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CPI: All-items Excluding Food and Energy

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