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Data from Statistics Canada. Forecasts by Sigmanomics Forecast Engine.
CanadaCanada Inflation Rate MoM fell to -0.1% in August 2026
Statistics CanadaMonthlyReleased September 2026
Canada Inflation Rate MoM fell to -0.1% in August 2026, released September 2026, down 0.6% from July's 0.5% reading. The reading matched expectations. The print is running well below the 12-month average of 0.25%. Over the past 3 months, Inflation Rate MoM averaged 0.37%, vs 0.65% in the prior 3-month window. The reading is in the 23rd percentile of the trailing 24-month range.
Latest Release
-0.1
Actual
-0.1
Consensus
0.5
Previous
Median Absolute Error
±0.14 percentage points
across last 12 releases
Last Call
Aug 2026
Predicted: 0.35
Actual: 0.5
Error: -0.15
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| S&P 500 | ▼ Inverse | −0.66 | INDEX | Moves against | → View |
| S&P/TSX Composite | ▼ Inverse | −0.60 | INDEX | Moves against | → View |
| BTC/USD | ▼ Inverse | −0.49 | CRYPTO | Moves against | → View |
| AUD/CAD | ▼ Inverse | −0.48 | FOREX | Moves against | → View |
| XAU/USD | ▼ Inverse | −0.44 | COMMODITIES | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Inflation Rate MoM (Canada) was reported at -0.1% in September 2026. This matched the market consensus of -0.1% exactly. The reading fell from the previous value of 0.5%. Trailing 12-month context per ETL data through August 2026. Over the past 12 months, the indicator has averaged 0.19%, ranging from -0.4% to 1% across 11 releases. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The trailing three releases averaged 0.37%, up from the prior three at 0.3%. Volatility over the past year (σ 0.37%) is comparable than the prior year (σ 0.41%). In August readings over the past 3 years, Inflation Rate MoM has averaged 0.4%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with S&P 500 (Bearish S&P 500). A secondary relationship exists with S&P/TSX Composite, negatively correlated (Bearish S&P). Over the last 12 releases, the Sigmacast model's median absolute error is 0.14%.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Housing Starts (Sep 16) and New Housing Price Index MoM (Sep 23).
Auto-generated from current model state · Refreshes on each release · Last update August 2026.
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Inflation Rate MoM - CA
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About Inflation Rate MoM — Canada
DEFINITION
The Inflation Rate MoM (Month-over-Month) is a financial indicator that measures the percentage change in the overall price level of goods and services in a given economy from one month to the next. It is a key measure of inflation and provides insight into the rate at which prices are rising or falling, which can impact consumer purchasing power and overall economic stability. This indicator is closely monitored by economists, policymakers, and investors to assess the health of an economy and make informed decisions.
WHY THIS INDICATOR MATTERS
Inflation prints feed directly into central-bank policy expectations and real-yield calculations, and are among the most rate-sensitive releases on the calendar. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Aug 2026): actual -0.1 %, consensus -0.1 %. Prior reading (Jul 2026): 0.5 %. Before that (Jun 2026): -0.4 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with S&P 500 (Bearish S&P 500, r=-0.66) — a useful reference for index-focused traders.
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EXPECTED ZONE
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Economic Calendar - CA Events
| Monday, September 14, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 12:30 | CA | Core Inflation Rate MoM | 0.1 | 0.2 | 0.2 | 0.15 | Low |
| 12:30 | CA | Common CPI YoY | 2.6 | 2.7 | 2.7 | 2.65 | High |
| 12:30 | CA | Median CPI YoY | 2 | 2 | 2 | 2.00 | High |
| 12:30 | CA | Inflation Rate MoM | -0.1 | 0.5 | -0.1 | -0.10 | Medium |
| 12:30 | CA | Trimmed CPI YoY | 1.9 | 1.9 | 1.9 | 1.90 | High |
| 12:30 | CA | Capacity Utilization | 80.7 | 82.2 | 82.4 | 81.55 | Low |
| 12:30 | CA | Inflation Rate YoY | 3 | 3 | 3 | 3.00 | High |
| 12:30 | CA | Core Inflation Rate YoY | 2.4 | 2.3 | 2.3 | 2.35 | Medium |
| 12:30 | CA | CPI YoY | 3 | 3 | 3 | 3.00 | Low |
| 12:30 | CA | Manufacturing Sales MoM | -0.4 | 0.1 | -0.2 | -0.32 | Low |
| Tuesday, September 15, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 12:30 | CA | New Motor Vehicle Sales | 190.2 | 190.1 | 190.10 | Low | |
| 12:30 | CA | Wholesale Sales MoM | -0.6 | 2.8 | -0.6 | -0.47 | Low |
| Wednesday, September 16, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 12:15 | CA | Housing Starts | 229.1 | 237.5 | 240.65 | Medium | |
| 12:30 | CA | Building Permits MoM | 18.5 | -5.8 | -5.80 | Low | |