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Canada’s CPI Sees 2.4 Percent Increase in September
(MENAFN) Canada’s Consumer Price Index (CPI) climbed 2.4 percent year-over-year in September, rising from a 1.9 percent increase in August, according to Statistics Canada on Tuesday.
The national statistical agency attributed the faster inflation pace to a “base-year effect” causing gasoline prices to drop less in September than in August, which pushed headline inflation higher.
When excluding gasoline, the CPI increased by 2.6 percent in September, up from 2.4 percent in the previous month, Statistics Canada noted.
Additional factors contributing to the inflation rise included a slower decline in travel tour prices and a sharper increase in food prices from stores, the agency said.
On a monthly basis, the CPI edged up 0.1 percent in September, Statistics Canada reported.
The national statistical agency attributed the faster inflation pace to a “base-year effect” causing gasoline prices to drop less in September than in August, which pushed headline inflation higher.
When excluding gasoline, the CPI increased by 2.6 percent in September, up from 2.4 percent in the previous month, Statistics Canada noted.
Additional factors contributing to the inflation rise included a slower decline in travel tour prices and a sharper increase in food prices from stores, the agency said.
On a monthly basis, the CPI edged up 0.1 percent in September, Statistics Canada reported.
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