StatCan reports annual pace of inflation held steady at 1.9 per cent in October

The overall rise in prices came as food prices rose 3.7 per cent compared with a year ago

The annual pace of inflation held steady in October as the consumer price index rose 1.9 per cent compared with a year ago, matching its moves in August and September, Statistics Canada said Wednesday.

The result was also in line with the expectations of economists, according to financial markets data firm Refinitiv.

The overall rise in prices came as food prices rose 3.7 per cent compared with a year ago. Fresh fruit prices rose 7.9 per cent and fresh vegetable prices climbed 7.5 per cent.

Compared with a year ago, the price of gasoline was down 6.7 per cent in October compared with a 10.0 per cent decline in September. Natural gas prices rose 3.3 per cent compared with a year ago following a 5.8 per cent increase in September.

Statistics Canada said although global demand for oil remained low in October, there were slight price increases on a monthly basis due to temporary supply disruptions in the Middle East and a drop in crude oil inventories in the United States.

Excluding gasoline, the annual pace of inflation was 2.3 per cent in October, down from 2.4 per cent in September.

The average of Canada’s three measures for core inflation, which are considered better gauges of underlying price pressures, was 2.07 per cent compared with a revised figure of 2.03 per cent in September.

The core readings are closely monitored by the Bank of Canada, which adjusts its key interest rate target to manage inflation.

Regionally, prices were up 2.3 per cent compared with a year ago in Quebec, while Manitoba and B.C. both saw increases of 2.2 per cent. The annual pace of inflation was 1.7 per cent in Ontario.

READ MORE: Canadian annual inflation rate 1.9% last month

The Canadian Press


Like us on Facebook and follow us on Twitter.

Just Posted

Injured eagle rescued in White Rock: ‘It was the size of a turkey!’

Bald eagle may have gotten into a fight over territory

Surrey getting a new hospital, in Cloverdale

Premier John Horgan said the ‘brand new hospital’ will be built near Kwantlen Polytechnic University

Four ‘Nutcracker’ shows in Surrey on Royal City company’s 30th-year tour

This year’s cast features more than 70 dancers, including 18 from Surrey

White Rock pier-plank purchasers celebrated

Donors received a certificate Sunday marking their purchase of a pier plank

Delta police searching for Ladner robbery suspect

The incident took place in the 5400-block Ladner Trunk Road shortly before noon on Saturday, Dec. 7

‘Kind of lacking:’ Injured Bronco wonders why Canada won’t fund spinal surgery

“I think if Canada can step in and advance this program”

Cougar destroyed in Penticton area after mauling dog, killing cat

This is the first reported incident with a cougar this year in the Penticton area

Don’t expect extra bus service during impending SkyTrain strike, CMBC says

Full SkyTrain shutdown is scheduled to start Tuesday morning

Feds not enforcing standards on Hungarian duck imports, B.C. farmer says

‘You have no way of knowing what’s in the bag’

No reports yet of Canadians affected by New Zealand volcano eruption, feds say

Missing and injured included tourists from the U.S., China, Australia, Britain and Malaysia

Vancouver Giants fall to Spokane Chiefs

‘We are just having a tough time scoring right now’

Dance cancelled after Alberta teacher’s climate lesson prompts online threats

School district near Red Deer cancelled annual family dance due to Facebook comments

In surprise move, defence won’t call witnesses for accused in Abbotsford school killing

‘Change of instructions’ results in defence closing case without calling evidence

Most Read