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- Canada’s annual inflation accelerates more than forecast in September
Canada’s annual inflation accelerates more than forecast in September
Statistics
Canada announced on Wednesday the country’s consumer price index (CPI) fell 0.1
percent m-o-m in September, the same pace as in the previous two months.
On the y-o-y basis,
Canada’s inflation rate increased 0.5 percent last month, following a 0.1
percent advance in August.
Economists had
predicted inflation would decrease 0.1 percent m-o-m but gain 0.4 percent y-o-y
in September.
According to
the report, price changes in transportation (+0.1 percent y-o-y compared to -1.3
percent y-o-y in August), recreation, education and reading (-1.2 percent y-o-y
compared to -3.1 percent y-o-y), and shelter (+1.7 percent y-o-y compared to
+1.5 percent y-o-y) components contributed the most to the September acceleration
in the CPI. Meanwhile, the drop in gasoline prices (-10.7 percent y-o-y) in
September was comparable to the August decrease (-11.1 percent y-o-y), while
food price growth (+1.6 percent y-o-y) slowed slightly compared with last month
(+1.8 percent y-o-y).
Overall, prices
rose in six of the eight major components on a year-over-year basis in
September.
The closely watched the Bank of Canada's core index
rose 1.0 percent y-o-y in September after a 0.8 percent gain in August.
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