Canada’s CPI inflation posts smallest yearly rise since Feb 2021

Canada’s Consumer Price Index (CPI) inflation posted the smallest yearly increase since February 2021 (+1.1 per cent), Statistics Canada reported on Tuesday.

CPI rose 1.6 per cent on a year-on-year basis in September, down from a 2.0 per cent gain in August.

The main contributor to headline deceleration was lower year-over-year prices for gasoline in September of -10.7 per cent compared with August of -5.1 per cent. The all-items CPI excluding gasoline increased 2.2 per cent in September, matching the rise in August for this measure.

On a month-on-month basis, the CPI dropped 0.4 per cent in September, after a 0.2 per cent fall in August. Both the monthly and yearly movement in September were led by lower prices for gasoline, Statistics Canada added.

On a seasonally adjusted monthly basis, the CPI was unchanged at 0.0 per cent in September.

Attribution: Statistics Canada