Canada’s headline inflation rate jumped to 2.4 per cent in September from 1.9 per cent the month before, as measures of core inflation remained elevated, Statistics Canada said on Tuesday.
The rise was attributed to gasoline prices falling less in September than they did in August, a slower year-over-year decline in travel tour prices and accelerating grocery prices.
CPI excluding food and energy rose by 2.4 per cent, the same as in August, while CPI excluding gasoline rose by 2.6 per cent, up from 2.4 per cent the month before.
Measures of core inflation remained above three per cent in September. CPI-median rose by 3.2 per cent, the same as the month before, while CPI-trim rose by 3.1 per cent, up from three per cent in August.
The Bank of Canada decides on its interest rate on Oct. 29.
More to come …