Canada: Inflation edges up on higher prices at the fuel pump in September
October 20, 2017
Seasonally-adjusted consumer prices rose 0.2% in September, in line with August’s 0.2% print. According to Statistics Canada, September’s rise was largely due to significantly higher transport prices—primarily driven by an increase in gasoline prices—along with marginal growth in food and shelter prices.
Inflation was 1.6% in September, up from 1.4% in August and within the Bank of Canada’s target range of 2.0% plus/minus 1.0 percentage point. Meanwhile, annual average inflation was stable at 1.5% for an eighth consecutive month in September. Core inflation, which excludes volatile items including gasoline and fresh food, ticked down to 0.8% from 0.9% a month earlier.
Author: Christopher Thomas, Economist