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- Canada's inflation rate holds steady at 1.9 percent in September
Canada's inflation rate holds steady at 1.9 percent in September
Statistics
Canada reported on Wednesday the country’s consumer price index (CPI) fell 0.4
percent m-o-m in September, following a 0.1 percent m-o-m decline in the
previous month.
On the y-o-y
basis, Canada’s inflation rate increased 1.9 percent last month, matching the gain
in August.
Economists had
predicted inflation would decrease 0.2 percent m-o-m but advance 2.1 percent
y-o-y in September.
According to the report, prices for goods (+1.3 percent y-o-y) rose at a faster rate in September than in the previous month, while prices for services (+2.2 percent y-o-y) increased at a slower pace compared with August.
The cost of gasoline tumbled
10.0 percent y-o-y in September, following a 10.2 percent y-o-y decline in
August. Excluding gasoline, the CPI rose 2.4 percent y-o-y, matching the
increase in July.
Meanwhile, the
closely watched the Bank of Canada's core index rose 1.9 percent y-o-y in September,
the same pace as in the previous month. Economists had forecast an advance of 1.9
percent y-o-y.
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