Canadians’ Inflation Expectations for March 2026

Inflation Expectations Hold Steady in March

Canadians are holding steady to their one-year inflation expectations—3.3 per cent for a third consecutive month—with slightly more individuals expecting inflation to increase above 3.0 per cent and slightly fewer individuals expecting inflation to decrease below 1.0 per cent. Driving these expectations are elevated gas and grocery prices, as well as rising unemployment. 

What is contributing to near-term inflation expectations holding stead while medium-term views are declining? Which province shows the largest shift in inflation expectations? How has the disruption of tanker traffic through the Strait of Hormuz due to the conflict in the Middle East impacted gasoline prices?  

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