Canada’s CPI Hits 2.3% in January: The "Base-Effect" Battle vs. Cooling Shelter Costs

Canada’s inflation story for early 2026 is becoming a tale of two pressures. According to Statistics Canada data released on February 17, 2026, the Consumer Price Index (CPI) rose 2.3% on a year-over-year basis in January, a slight deceleration from December’s 2.4%.