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- Canadian consumer price inflation rises 0.1% in October
Canadian consumer price inflation rises 0.1% in October
Statistics Canada released consumer price inflation data on Friday. Canadian consumer price inflation rose 0.1% in October, in line with expectations, after a 0.2% decline in September.
The monthly increase was mainly driven by a rise in clothing and footwear prices, which climbed 1.0% in October.
On a yearly basis, the consumer price index remained unchanged at 1.0% in October, in line with expectations.
The consumer price index was partly driven by higher food prices. Food prices climbed 4.1% year-on-year in October, while transportation prices decreased 3.2%.
The index for recreation, education and reading climbed by 1.9% in October from the same month a year earlier, the shelter index gained 1.1%, while gasoline prices dropped 17.1%.
The Canadian core consumer price index, which excludes some volatile goods, rose 0.3% in October, after a 0.2% gain in September.
On a yearly basis, core consumer price index in Canada remained unchanged at 2.1% in October, in beating expectations for a fall to 2.0%.
The Bank of Canada's inflation target is 2.0%.
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