Canada’s inflation rate fell to 1.6 per cent in September, Statistics Canada reported Tuesday, after hitting the Bank of Canada’s two per cent goal in August.
Consumer price index reached Bank of Canada’s 2% goal in August
Canada’s inflation rate fell to 1.6 per cent in September, Statistics Canada reported Tuesday, after hitting the Bank of Canada’s 2 per cent goal in August.
The data agency said the numbers marked the smallest year-over-year increase to the consumer price index since February 2021.
Lower gasoline prices, which fell by 10.7 per cent, drove inflation down last month. With gasoline excluded, the all-items inflation rate came in at 2.2 per cent, the same as August.
The agency noted that prices remain elevated — especially for rent and groceries — even as inflation has cooled off.
More to come.
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