What is the inflation rate in Canada — and how does it affect Calgary housing?
Inflation is how much prices have risen over the past year. It's what pushes the Bank of Canada to raise or cut rates — which is what moves mortgages in Calgary.
How much prices across the economy have risen compared to a year ago. High inflation often pushes the Bank of Canada to raise interest rates, which increases mortgage costs. The Bank of Canada targets 2%.
As of July 2026, Calgary's strongest market signal is Hold at 70% — Buy 47%, Hold 70%, Sell 48%.
Market conditions currently favour holding — prices are stable and inventory is balanced.
What this means for you
High inflation tends to push interest rates up, raising your mortgage costs. Cooling inflation eases that pressure.
Inflation's main housing effect is indirect — through interest rates and buyer affordability.
Calgary market context
Alberta's largest market, where energy-sector cycles drive sharper price swings than the national average.