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StatCan Inflation September, Update – CP

by ahnationtalk on October 19, 20189 Views

Source: The Canadian Press – Broadcast wire
Oct 19, 2018 

OTTAWA – The annual pace of inflation slowed more than expected in September as increases in the price of gasoline eased compared with August.

Statistics Canada says the consumer price index in September was up 2.2 per cent from a year ago compared with a year-over-year increase of 2.8 per cent in August.

Economists had expected the September figure to come in at 2.7 per cent, according to Thomson Reuters Eikon.

Statistics Canada says prices were up in all eight major components for the 12 months to September, while the increase in the transportation index, which includes gasoline, slowed. Gasoline prices in September were up 12.0 per cent compared with a year ago compared with a 19.9 per cent increase in August.

The report comes ahead of the Bank of Canada’s rate decision next week when it will also update its forecast for the economy in its monetary policy report.

The central bank is widely expected to raise its key interest rate target, which sits at 1.5 per cent, by a quarter of a percentage point.

(The Canadian Press)

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