Statistics
Canada announced on Wednesday the country’s consumer price index (CPI) fell 0.1
percent m-o-m in September, the same pace as in the previous two months.
On the y-o-y basis,
Canada’s inflation rate increased 0.5 percent last month, following a 0.1
percent advance in August.
Economists had
predicted inflation would decrease 0.1 percent m-o-m but gain 0.4 percent y-o-y
in September.
According to
the report, price changes in transportation (+0.1 percent y-o-y compared to -1.3
percent y-o-y in August), recreation, education and reading (-1.2 percent y-o-y
compared to -3.1 percent y-o-y), and shelter (+1.7 percent y-o-y compared to
+1.5 percent y-o-y) components contributed the most to the September acceleration
in the CPI. Meanwhile, the drop in gasoline prices (-10.7 percent y-o-y) in
September was comparable to the August decrease (-11.1 percent y-o-y), while
food price growth (+1.6 percent y-o-y) slowed slightly compared with last month
(+1.8 percent y-o-y).
Overall, prices
rose in six of the eight major components on a year-over-year basis in
September.
The closely watched the Bank of Canada's core index
rose 1.0 percent y-o-y in September after a 0.8 percent gain in August.
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