February 24, 2026. Toronto, ON. Canada’s CPI data for January was released on February 17. After a 2.4% increase in December, January’s inflation number dropped slightly to 2.3% – a result that would have been 3.0%, if not for the impact of rapidly declining gas prices.

Inflation for food purchased from stores in January was 4.8%, slightly lower than the 5.0% result in December. By comparison, inflation for food purchased from restaurants was 12.3%. All results come as Canada laps the GST/HST break from the previous year. It’s worth noting: Loblaw’s internal inflation continues to run meaningfully below food CPI.

Loblaw has issued its January Food Inflation Report(Open in a new tab) with context around what’s impacting food prices and what it expects in the future.

For more information, contact pr@loblaw.ca(Open in a new tab)