What is the inflation rate in Canada — and how does it affect Ottawa 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 Ottawa.
National figure — set Canada-wide, so it applies in Ottawa too.
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%.
Recent trend
Last 24 months
What this means for Ottawa right now
As of July 2026, Ottawa's strongest market signal is Hold at 72% — Buy 46%, Hold 72%, Sell 49%.
Market conditions strongly favour holding — prices are stable and inventory is balanced.
What this means for you
If you're buying
High inflation tends to push interest rates up, raising your mortgage costs. Cooling inflation eases that pressure.
If you're selling
Inflation's main housing effect is indirect — through interest rates and buyer affordability.
Ottawa market context
Canada's capital — a stable, government-anchored market less prone to boom-bust swings.
Rental Vacancy · Ottawa CMA (CMHC, annual)
3.1%
Unemployment Rate · Ontario (Statistics Canada)
7.9%
Common questions
Is now a good time to buy in Ottawa?
As of July 2026, Ottawa's strongest market signal is Hold (72%). Market conditions strongly favour holding — prices are stable and inventory is balanced. Not financial advice.
What inflation rate does the Bank of Canada target?
2%, the midpoint of its 1–3% control range.
How does inflation affect house prices in Ottawa?
Mainly through interest rates: high inflation usually means higher rates, which cool demand and prices; the reverse when inflation falls.