CANADA INFLATION RISES TO 3.1%, BUT CORE PRESSURES EASE Canada's annual inflation accelerated to 3.1% in September, below the 3.2% forecast…
CANADA INFLATION RISES TO 3.1%, BUT CORE PRESSURES EASE
Canada's annual inflation accelerated to 3.1% in September, below the 3.2% forecast, as higher oil prices pushed energy costs up.
Monthly CPI rose 0.1%, also below expectations.
Meanwhile, the Bank of Canada's preferred core inflation measures averaged 1.85%, their lowest level in six years.
The key takeaway: Energy is driving headline inflation higher, while underlying inflation continues to cool.