OttawaGasoline prices rose 27.8% in a year.
That lifted Canada’s inflation above the Bank of Canada’s upper limit for the first time in 3 months.
Energy prices rose 19% annually, up from 15.4% in August, Statistics Canada said.
Core measures eased, with median inflation at 1.9% and trimmed inflation at 1.8%.
The Bank of Canada decides on 28 October, and money markets expect it to hold at 2.25%.
How each outlet framed it
drawn from 40+ reports worldwide
- Reuters
- ties the 3.1% print to fuel, not food: gasoline up 27.8% y/y, and says grocery inflation slowed to its smallest rise since May 2024
- Bloomberg Business
Sources: Reuters, Bloomberg Business