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Canada Inflation September 2022

Canada: Inflation falls in September

Inflation fell from 7.0% in August to 6.9% in September. The deceleration was driven by weaker price pressures for transport.

Meanwhile, core inflation rose from 5.8% in August to 6.0% in September.

Finally, consumer prices increased 0.07% in September over the previous month, coming in above August’s 0.33% decline.

Analysts at Desjardins commented:

“The persistence of inflation means that the Bank of Canada’s job isn’t done yet. The Bank of Canada’s most recent consumer survey showed accelerating short-term inflation expectations, which is keeping policymakers concerned, even though long-term inflation expectations remain relatively anchored. As a result, expect a rate hike of at least 75bp next week.”

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