Weather will likely play an important role when you plan your trip to Rankin Inlet, and keep in mind that cheaper options are usually available when the weather isn't as good. The hottest months are usually July and August with an average temp of 47°F, while the coldest months are February and January with an average of -14°F. The snowiest months in Rankin Inlet are December, November, January, and March, with each month seeing an average of 9 inches of snowfall.