The headline inflation rate in Canada rose to 3.1% in September of 2026 from 3.0% in the previous month, the highest rate since the two-year high of 3.2% in May, but below the median market consensus of 3.2%. Prices accelerated for energy goods (19.0% vs 15.4% in August), tracking the recent surge in crude oil prices as the war in the Middle East drove the US and Iran to tighten their blockade of oil and fuel tankers crossing the Persian Gulf. Consequently, consumer prices accelerated for transportation (8.4% vs 7.5%), particularly through fuel (57.8% vs 43.7%). In the meantime, prices also rose for shelter (1.8% vs 1.5%) and clothing a footwear (1.8% vs 1.5%). On the other hand, inflation softened for food (2.2% vs 2.8%) on a sharp slowdown for food purchased from grocery stores (1.7% vs 2.8%).