According to the Consumer Price Index (CPI), consumers in Newfoundland and Labrador paid 4.7% more for goods and services in September 2026 than in September 2025.

Prices increased in most major categories in September 2026 compared with September 2025, led by the ‘Energy’ index.

• Energy prices continued to rise in September 2026, with an increase of 25.5%, reflecting significant increases in ‘Fuel oil and other fuels’ (+78.6%) and ‘Gasoline’ (+37.8%).
• These increases were driven largely by higher oil prices. Brent crude oil averaged US$114.16 per barrel in September 2026, up 67.9% from September 2025, primarily due to supply concerns associated with the ongoing conflicts in the Middle East.
  • The removal of the federal fuel excise tax on April 20, 2026, eased pressure on gasoline prices; however, this effect was more than outweighed by higher crude oil prices.
• Prices for ‘Transportation’ increased by 11.6%, driven primarily by higher gasoline prices.
• Prices for ‘Shelter’ increased by 4.5%, continuing to contribute to overall inflation.
  • There was an increase in the ‘Rented accommodation’ index (+6.9%), which includes rent costs, and an increase in the ‘Owned accommodation’ index (+1.2%), which includes mortgage interest costs.
  • Shelter price changes were also influenced by higher prices for both ‘Fuel oil and other fuels’ (+78.6%) and ‘Electricity’ (+2.2%). Electricity rates in Newfoundland and Labrador increased by an average of 2.3% effective July 1, 2026, following rate changes implemented by Newfoundland Power, the province’s primary electricity retailer.
• ‘Food’ prices increased by 1.5% in September 2026 compared with September 2025. Prices increased for ‘Food purchased from stores’ (+1.1%) and ‘Food purchased from restaurants’ (+2.4%).
  • Higher prices for ‘Fish, seafood and other marine products’ (+7.0%) and ‘Fruit, fruit preparations and nuts’ (+5.4%) contributed most to the increase in prices for food purchased from stores.

The ‘All-items excluding energy’ index increased by 2.4% in September 2026 compared with September 2025, suggesting underlying inflationary pressures remained more moderate outside energy-related components.

At the national level, the CPI increased by 3.1% on a year-over-year basis in September 2026. Among the provinces, inflation rates ranged from 2.5% in Ontario to 5.7% in Prince Edward Island.

On a seasonally adjusted basis, consumer prices in Canada increased by 0.4% from August to September 2026. Seasonally adjusted CPI data are not available for Newfoundland and Labrador.

The United States CPI for all urban consumers increased by 3.7% in September 2026 compared with September 2025. The seasonally adjusted index increased by 0.6% in September compared with August 2026.

On a year-to-date basis, consumers in Newfoundland and Labrador paid 3.5% more for goods and services in the January to September 2026 period compared with the same period in 2025, led by higher prices for ‘Transportation’ (+5.2%), ‘Shelter’ (+3.9%) and ‘Food’ (+3.6%).

Year-Over-Year Change in CPI, September 2026 vs. September 2025