The CPI, which is concerned with measuring inflation in Canada, according to data released moments ago, rose to its highest level since February 2003 by 4.4% on an annual basis in September, compared to 4.1% in August. The index, excluding gasoline prices, recorded an increase of 3.5% on an annual basis.
The monthly index rose by 0.2% in September on the same reading as August, while expectations were for a decline of about 0.1%.
In the details of the index’s growth, the transport sector contributed to the increase of the index by about 9.1% on an annual basis, to be the largest contributor to the growth of inflation, while the shelter price index rose by about 4.8%, and the food price index rose by about 3.9%, while the gasoline price index fell on a monthly basis by about 0.1 % .
The Canadian dollar is trading at 1.2348 levels against the US dollar