Canada’s Consumer Price Index (CPI) grew by 2.4% year-on-year in September, according to figures released just a few moments ago, up from 1.9% in August. The core CPI, which excludes gasoline prices, rose 2.6% year-on-year, up from 2.4% in August.
On a monthly basis, the CPI rose 0.1% in September after declining by 0.1% in August, confounding expectations.
Gasoline prices fell by a smaller 4.1% year-on-year in September, down from 12.7% in August. Store food prices rose by 4%, up from 3.5% in August. Travel prices fell by 1.3%, down from a 9.3% decline in August. Clothing and footwear prices rose by 0.8%.