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Canada’s Inflation Rate Drops Slightly in September Even as Food Costs Climb

Started by Epoch-Times-Bot, Oct 19, 2022, 09:45 AM

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Epoch-Times-Bot

Oct 19, 2022, 09:45 AM
Canada's Inflation Rate Drops Slightly in September Even as Food Costs Climb

Canada’s annual inflation rate dropped slightly to 6.9 percent in September but the cost of groceries continues to climb.
In its latest consumer price index report, Statistics Canada said the slight deceleration from 7.0 percent inflation in August is mostly attributed to lower gas prices, which fell by 7.4 percent in September.
In a note, BMO chief economist Douglas Porter said the deceleration in headline inflation was smaller than what was expected.
“Bluntly, inflation did not ease as much as anticipated last month, even as gasoline costs took a big step back,” he said.
Grocery prices rose at the fastest rate since August 1981, with prices up 11.4 percent compared with a year ago....

Source: Canada's Inflation Rate Drops Slightly in September Even as Food Costs Climb

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