Statistics Canada’s annual review of inflation shows year-over-year changes in the consumer price index averaged 2.1 per cent last year, slower than 2.4 per cent in 2024. Still, costs have risen nearly 20 per cent since 2020, compared with a roughly nine-per-cent increase over the previous five-year period. (The Logic)

Talking point: Inflation accelerated to 2.4 per cent in December, mostly because a year ago the previous government’s GST/HST holiday was depressing the cost of various frivolities. The Bank of Canada will stay on cruise control, as inflation is near its two-per-cent target. Households, though, will continue to suffer sticker shock. Wage gains have kept pace with inflation, and telephone and internet services are lower than a couple of years ago. But for many inflation is what they pay for groceries and rent. Those costs increased about 3.5 per cent and five per cent, respectively, in 2025.