StatCan reports annual pace of inflation held steady at 1.9 per cent in October

The overall rise in prices came as food prices rose 3.7 per cent compared with a year ago

The annual pace of inflation held steady in October as the consumer price index rose 1.9 per cent compared with a year ago, matching its moves in August and September, Statistics Canada said Wednesday.

The result was also in line with the expectations of economists, according to financial markets data firm Refinitiv.

The overall rise in prices came as food prices rose 3.7 per cent compared with a year ago. Fresh fruit prices rose 7.9 per cent and fresh vegetable prices climbed 7.5 per cent.

Compared with a year ago, the price of gasoline was down 6.7 per cent in October compared with a 10.0 per cent decline in September. Natural gas prices rose 3.3 per cent compared with a year ago following a 5.8 per cent increase in September.

Statistics Canada said although global demand for oil remained low in October, there were slight price increases on a monthly basis due to temporary supply disruptions in the Middle East and a drop in crude oil inventories in the United States.

Excluding gasoline, the annual pace of inflation was 2.3 per cent in October, down from 2.4 per cent in September.

The average of Canada’s three measures for core inflation, which are considered better gauges of underlying price pressures, was 2.07 per cent compared with a revised figure of 2.03 per cent in September.

The core readings are closely monitored by the Bank of Canada, which adjusts its key interest rate target to manage inflation.

Regionally, prices were up 2.3 per cent compared with a year ago in Quebec, while Manitoba and B.C. both saw increases of 2.2 per cent. The annual pace of inflation was 1.7 per cent in Ontario.

READ MORE: Canadian annual inflation rate 1.9% last month

The Canadian Press


Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

County council approves “challenging budget”

Provincial government cuts affect County’s revenue sources

Stettler’s Big Brothers Big Sisters has plenty of events lined up for the first part of 2020

January is Mentoring Month across Canada and throughout North America

The Stettler ATOM female team will be having a Hockey Fights Hunger Food Drive Feb. 8th

Drop off locations will include Canadian Tire, No Frills and Sobeys from 10 a.m. to 4 p.m.

Cattle Show set to return to Stettler Jan. 31st and Feb. 1st

“Stettler, historically, has been a very strong cattle community. It was a real hub for the cattle industry.”

Archie Lunevich presents a $30,000 cheque to Leona Thorogood, chair of Stettler Health Services Foundation

The funds will be used to purchase equipment for the upcoming renovated ER department at the hospital

VIDEO: Trudeau insists Iran respect families’ wishes when it comes to burials

All 176 people on board the Ukraine International Airlines flight PS752 were killed

Harry and Meghan should cover their own security costs: NDP heritage critic

The prince, Meghan Markle and their eight-month-old son Archie are reportedly staying at a mansion near Victoria

Alberta premier wants federal government to do more about opioid imports

Jason Kenney says Canada should find ways to cut down on drugs being smuggled into the country

Alberta Energy Regulator laying off staff, restructures, deals with budget cuts

Gordon Lambert, interim CEO, says the changes are part of a restructuring

Energy companies owe more than double the tax to Alberta municipalities

Survey says communities are owed $173 million — up 114% since last spring

No gondola from Banff to Mount Norquay, feds say

Parks Canada dismisses proposal for gondola, Grizzly Pavilion and boardwalks

U.S. officials confirm first case of Wuhan coronavirus near Seattle

The U.S. is the fifth country to report seeing the illness

Nine times lucky? Alberta’s Northern Cree takes another shot at Grammy gold

The group originates from the Saddle Lake Cree Nation in northern Alberta

Most Read