Canada: Inflation drops in September
Inflation edged down to 3.8% in September from August’s 4.0%, undershooting market expectations. The reading was driven by moderating price pressures for housing, food and recreation and culture. That said, inflation remained above the Central Bank’s 1.0%–3.0% target range.
Annual average inflation fell to 4.7% in September (August: 5.0%). Meanwhile, core inflation fell to 2.8% in September, from August’s 3.3%.
Lastly, consumer prices dropped 0.13% in September over the previous month, swinging from August’s 0.38% increase. September’s result marked the weakest reading since December 2022.