Canada: Inflation hits highest level since June in October
Consumer prices rose a seasonally-adjusted 0.29% in October over the previous month, picking up from September’s 0.22% rise. October’s figure marked the sharpest increase in prices since June. The reading was driven by rising prices for housing and food.
Inflation came in at 0.7% in October, which was up from September’s 0.5%. October’s result was the highest inflation rate since June. Meanwhile, the trend pointed down mildly, with annual average inflation coming in at 1.0% in October (September: 1.1%). Core inflation was stable, coming in at September’s 1.0% in October.