Canada: inflation reaches 3.1% in September

Canada’s annual inflation reached 3.1% in September, up from 3.0% in August, according to Statistics Canada data released on October 19. [1]

The weight of fuel

Gasoline costs 27.8% more than a year earlier. Excluding gasoline, overall price growth slowed to 2.2%, from 2.4%. [1]

Slower grocery price growth

Reuters reports that grocery prices rose 1.7% over the year. Slower growth does not mean that prices are falling. [2]

The next monetary policy decision

Reuters reports that analysts expected 3.2%. CPI-median and CPI-trim stood at 1.9% and 1.8%, respectively. These indicators inform the Bank of Canada’s October 28 decision without determining its outcome. [2]