Canada's Inflation Rate Rose To 3.1% In September
(MENAFN- Baystreet)
Surging energy prices pushed Canada's annualized inflation rate up to 3.1% in September.
Statistics Canada said that higher prices for gasoline at the pumps, which rose 27.8% in September for a year earlier, drove the overall inflation rate higher.
Excluding gasoline, the Consumer Price Index (CPI) in Canada rose an annualized 2.2% in September, which was lower than the 2.4% advance seen in August of this year.
However, total inflation in Canada accelerated from a 3.0% increase in August.
Economists polled by Reuters (TRI) had expected inflation in Canada to come in at 3.2% in September.
Helping to offset the impact of higher gas prices were smaller year-over-year price increases for travel tours and groceries, said Statistics Canada.
Prices for food purchased from stores rose 1.7% year-over-year in September, after increasing 2.8% in August.
Shelter prices rose 1.8% year-over-year, up from a 1.5% increase seen in August.
University and college tuition fees, which are priced in September, increased 2.4% this year compared with a 1.7% rise in 2025.
Inflation rose at a faster pace in five provinces during September, mainly due to higher prices for gasoline and fuel oil.
Inflation was higher in Nova Scotia (+3.3%), Prince Edward Island (+2.6%), New Brunswick (+2.6%), and Newfoundland and Labrador (+2.4%) in September.
That compared with a 2.1% inflation increase seen at the national level last month.
Surging energy prices pushed Canada's annualized inflation rate up to 3.1% in September.
Statistics Canada said that higher prices for gasoline at the pumps, which rose 27.8% in September for a year earlier, drove the overall inflation rate higher.
Excluding gasoline, the Consumer Price Index (CPI) in Canada rose an annualized 2.2% in September, which was lower than the 2.4% advance seen in August of this year.
However, total inflation in Canada accelerated from a 3.0% increase in August.
Economists polled by Reuters (TRI) had expected inflation in Canada to come in at 3.2% in September.
Helping to offset the impact of higher gas prices were smaller year-over-year price increases for travel tours and groceries, said Statistics Canada.
Prices for food purchased from stores rose 1.7% year-over-year in September, after increasing 2.8% in August.
Shelter prices rose 1.8% year-over-year, up from a 1.5% increase seen in August.
University and college tuition fees, which are priced in September, increased 2.4% this year compared with a 1.7% rise in 2025.
Inflation rose at a faster pace in five provinces during September, mainly due to higher prices for gasoline and fuel oil.
Inflation was higher in Nova Scotia (+3.3%), Prince Edward Island (+2.6%), New Brunswick (+2.6%), and Newfoundland and Labrador (+2.4%) in September.
That compared with a 2.1% inflation increase seen at the national level last month.
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