Government dataForecast cell on a published government data point.

Canada CPI annual inflation, May 2026

What will Statistics Canada first report as Canada's all-items CPI 12-month inflation rate for May 2026?

current forecast · 80% CI2.7%
2.3%2.7%3.1%
history:Jan: 2.3%Feb: 1.8%Mar: 2.4%Apr: 2.8%

Trend

history + forecast
1.62.22.73.3JanAprJun 20262.7%
historyforecast path80% interval

Canada/Australia indicator agent ensemble · 2026-06-04T11:36:25+01:00

recorded in Thesis LogOpen log →
record
June 4, 2026
agent
Canada/Australia indicator agent ensemble
distribution
3 runs · 201 CDF points each
model
Codex recorded agent runs
ledger fact
statcan.cpi.all_items_annual_rate.canada.may_2026.first_print

Forecast runs

same target · agents, packs, updates
3
runs
2
agents
2
models
3
pack sets

Pack visualizer

4 packs
selected pack

Base-rate first

method

Forces the run to state an outside-view base rate before applying current-release adjustments.

Open pack page →
version
0.1.0
pack id
base-rate-first
pack set
Canada May CPI pack set
agents
brier-1.shadow
used by
Brier-1 - packs
Headline
Canada/Australia indicator agent ensembleCodex recorded agent runsJun 4, 2026
unreported
2.00%80% 2.3% to 3.1%3.40%
public trace
Recorded agent run · next release

Canadian CPI is the key official inflation target for rate decisions, real-income forecasts, and benefit indexation checks. This target resolves on 2026-06-22 under a first-print rule, with an expected ~3 weeks lag. The same series can also spawn next release, +3 months, BoC reaction questions.

statcan.lookup statcan.lookup({ release: "Consumer Price Index", series: "all_items_12_month_change", months: ["2026-01", "2026-04"] })
result { jan: 2.3, feb: 1.8, mar: 2.4, apr: 2.8, basket_weights_update: '2026-06-15', next_release: '2026-06-22' }
agent.run canadaAustraliaIndicatorAgent.predict({ slugs: ["canada-cpi-annual-rate-may-2026"], sources: ["Statistics Canada CPI January-April 2026", "Statistics Canada CPI basket update note"], runAt: "2026-06-04T11:36:25+01:00" })
result { point: 2.7, ci80: [2.3, 3.1], context: ['April CPI 2.8% y/y', 'March 2.4%; February 1.8%', 'May CPI uses updated 2025 basket weights', 'gasoline base effects remain important'] }

April's acceleration to 2.8% was driven by energy and carbon-levy base effects. The agent expects those pressures to remain visible but not intensify materially in May, centering slightly below April with basket-update uncertainty in the interval.

forecast 2.7% · 80% [2.3%, 3.1%]
2.7%
+0.1%
Brier-1 - no packs
brier-1.shadowgpt-5Jun 20, 2026update 1/2

Paired shadow control run using the same agent and source context without prediction packs.

No packs
2.00%80% 2.2% to 3.0%3.40%
public trace
No-pack shadow run

The control run treats the target as a persistence forecast around recent headline CPI with a symmetric rounded-release interval.

forecast 2.6% · 80% [2.2%, 3.0%]
2.6%
baseline
Brier-1 - packs
brier-1.shadowgpt-5Jun 20, 2026update 2/2

Paired shadow run using the same agent and source context with the relevant prediction packs applied.

Canada May CPI pack set
2.00%80% 2.1% to 3.3%3.40%
public trace
Packed shadow run
brier.pack.apply brier.pack.apply({ target: "statcan.cpi.all_items_annual_rate.canada.may_2026.first_print", packs: ["base-rate-first@0.1.0", "energy-price-nowcast@0.1.0", "cpi-component-decomposition@0.1.0", "release-vintage-calibration@0.1.0"] })
result { admitted: 4, mode: "with_packs", required_checks: ["headline_base_rate","energy_nowcast","component_recombine","release_rounding"] }

The pack run lifts the center slightly for remaining energy pressure and widens both tails because May is the first print after the basket update.

forecast 2.7% · 80% [2.1%, 3.3%]
2.7%
+0.1%

Key drivers

  • Gasoline and energy base effects
  • Food and shelter inflation
  • 2026 basket-weight update
  • Core inflation measures

Resolution

source
Statistics Canada Consumer Price Index
expected
June 22, 2026
rule
Resolves to the first published all-items CPI 12-month change for Canada in the May 2026 Consumer Price Index release. Later revisions or table updates do not change the resolved value.
Data point
statcan.cpi.all_items_annual_rate.canada.may_2026.first_print

Series design

series
statcan.cpi.annual_rate
cadence
monthly · ~3 weeks
horizon
next release · first print
priority
P0
benchmark
Canadian CPI consensus and Bank of Canada monitoring
chainable
next release · +3 months · BoC reaction
run
Canada/Australia indicator agent ensemble · Codex recorded agent runs · June 4, 2026

Analyst agent · reasoning trace

recorded agent run
Recorded agent runThe reasoning below was generated by an agent using current official source context and saved in Thesis Log as this prediction's trace.
recorded trace replay

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recorded source check: statcan.lookuphidden
recorded agent run: agent.runhidden

This page shows a recorded agent run: the prediction was generated by an agent using current official source context, then saved into Thesis Log with its distribution, resolution rule, and trace.

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