Canada's Inflation Rises to 3.1% as Energy Prices Accelerate

Canada’s annual inflation rate rose to 3.1% in September, edging above the Bank of Canada’s target range as higher fuel prices drew attention to its Oct. 28 interest-rate decision. The consumer price index had risen 3.0% from a year earlier in August. Gasoline prices rose 27.8% year over year in September, compared with 22.8% in August. Prices for the “fuel oil and other fuels” category climbed 57.8%, up from 43.7%. Overall energy prices rose 19.0%, compared with 15.4% a month earlier. Outside gasoline, annual inflation eased to 2.2% from 2.4% in August.

Source: TokenPost