Inflation in Canada eased to 3.8 percent in September

By: 600011 On: Oct 18, 2023, 4:43 PM


Canada's annual inflation rate eased to 3.8 percent in September, Statistics Canada said. Prices of goods and services and grocery products are rising slowly. After rising to four percent in August, there was a slight decrease in September. Canada's inflation rate accelerated for two months in a row. The inflation report comes ahead of the next interest rate announcement on October 25. Mortgage interest costs, rent, restaurant food, gasoline, and electricity were the main pressures on inflation last month. Meanwhile, telephone service, natural gas, air transportation, child care, housekeeping services, and furniture contributed to lower inflation.