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Inflation remained unchanged in October: StatsCan

Statistics Canada's offices at Tunny's Pasture in Ottawa are shown on March 8, 2019. Statistics Canada says the country's merchandise trade deficit narrowed to $978 million in September compared with a revised deficit of $1.2 billion in August. Economists on average had expected a deficit of $700 million, according to financial markets data firm Refinitiv. THE CANADIAN PRESS/Justin Tang
Summary

The Consumer Price Index rose 1.9 per cent in October, matching the year-over-year increase in August and in September


Consumers paid less for gas last month on a year-over-year basis


OTTAWA (NEWS 1130) – Statistics Canada says the Consumer Price Index rose 1.9 per cent in October, matching the year-over-year increase in August and in September.

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

Consumers paid less for gas last month on a year-over-year basis, paying 6.7 per cent less after a 10 per cent decline the month before.

Global demand for oil stayed low in October, but there were price increases because of supply disruptions in the Middle East, and lowered inventory in the U.S.

RELATED: Here’s a list of October inflation rates for selected Canadian cities

Natural gas prices rose 3.3 per cent year-over-year after an increas of 5.8 per cent the month before. Utilities in Ontario and Quebec revised commodity prices to reflect the current current and forecast natural gas prices across North America.

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

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.

With files from the Canadian Press