StatCan reports annual pace of inflation held steady at 1.9 per cent in October

The overall rise in prices came as food prices rose 3.7 per cent compared with a year ago

The annual pace of inflation held steady in October as the consumer price index rose 1.9 per cent compared with a year ago, matching its moves in August and September, Statistics Canada said Wednesday.

The result was also in line with the expectations of economists, according to financial markets data firm Refinitiv.

The overall rise in prices came as food prices rose 3.7 per cent compared with a year ago. Fresh fruit prices rose 7.9 per cent and fresh vegetable prices climbed 7.5 per cent.

Compared with a year ago, the price of gasoline was down 6.7 per cent in October compared with a 10.0 per cent decline in September. Natural gas prices rose 3.3 per cent compared with a year ago following a 5.8 per cent increase in September.

Statistics Canada said although global demand for oil remained low in October, there were slight price increases on a monthly basis due to temporary supply disruptions in the Middle East and a drop in crude oil inventories in the United States.

Excluding gasoline, the annual pace of inflation was 2.3 per cent in October, down from 2.4 per cent in September.

The average of Canada’s three measures for core inflation, which are considered better gauges of underlying price pressures, was 2.07 per cent compared with a revised figure of 2.03 per cent in September.

The core readings are closely monitored by the Bank of Canada, which adjusts its key interest rate target to manage inflation.

Regionally, prices were up 2.3 per cent compared with a year ago in Quebec, while Manitoba and B.C. both saw increases of 2.2 per cent. The annual pace of inflation was 1.7 per cent in Ontario.

READ MORE: Canadian annual inflation rate 1.9% last month

The Canadian Press


Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Chief Robert Gladstone of Shxwha:y Village at a federal flood funding announcement April 24, 2019. (Jenna Hauck/Chilliwack Progress file)
Consortium of Indigenous chiefs seeking a way to participate in cannabis economy

All Nations Chiefs from the Shxwha:y, Cheam, Soowahlie and Sq’ewlets holding online forum Dec. 2

Nearly 50 businesses and organizations from Aldergrove showcased their unique “light-up” float or display in Aldergrove’s annual Christmas Light-Up parade in 2019. (Aldergrove Star files)
Latest COVID restrictions cancels Aldergrove Christmas Light-Up parade

Annual holiday event, with socially distant restrictions in place, was set for Saturday, Dec. 12

A vehicle incident is blocking all lanes west of 216th Street on the Trans-Canada Highway in Langley on Nov. 27, 2020. Traffic is getting by only on the shoulder. (DriveBC photo)
UPDATE: New incident on Highway 1 in Langley, crashes involving 10 cars cleared

New incident is reported eastbound underneath the 216th Street overpass

Mayor Ken Popove and Justice Thomas Crabtree at the 2018 inaugural council meeting on Nov. 6, 2018. (Jennifer Feinberg/ Chilliwack Progress file)
Most municipalities no longer begin council sessions with prayer: BC Humanist report

Chilliwack, Langley, and White Rock among 23 cities that violated ‘duty of religious neutrality’

Steve ‘Elvis Elite’ Elliott has released a DVD of him performing his Christmas show to bring hope and joy to seniors in lockdown. (Submitted)
Elvis tribute artist in Chilliwack brings joy to seniors in lockdown through Christmas DVD

Steve ‘Elvis Elite’ Elliott records Christmas performance, sends DVDs to seniors’ homes in B.C.

A woman wears a protective face covering to help prevent the spread of COVID-19 as she walks along the seawall in North Vancouver Wednesday, November 25, 2020.THE CANADIAN PRESS/Jonathan Hayward
911 new COVID-19 cases, 11 deaths as B.C. sees deadliest week since pandemic began

Hospitalizations reach more than 300 across the province

Screenshot of Pastor James Butler giving a sermon at Free Grace Baptist Church in Chilliwack on Nov. 22, 2020. The church has decided to continue in-person services despite a public health order banning worship services that was issued on Nov. 19, 2020. (YouTube)
2 Lower Mainland churches continue in-person services despite public health orders

Pastors say faith groups are unfairly targeted and that charter rights protect their decisions

A big job: Former forests minister Doug Donaldson stands before a 500-year-old Douglas fir in Saanich to announce preservation of some of B.C.’s oldest trees, July 2019. (B.C. government)
B.C. returning to ‘stand-alone’ forests, rural development ministry

Horgan says Gordon Campbell’s super-ministry doesn’t work

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Join Black Press Media and Do Some Good
Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Despite rumours, Surrey RCMP say they are not issuing tickets to people if they are driving in a vehicle with others from a different household. (File photo)
COVID-19 tickets: No, RCMP aren’t checking vehicle occupancies, restaurant tables

Enforcement about education, not punishment says Surrey RCMP Cpl. Joanie Sidhu

Alexandre Bissonnette, who pleaded guilty to a mass shooting at a Quebec City mosque, arrives at the courthouse in Quebec City on February 21, 2017. THE CANADIAN PRESS/Mathieu Belanger - POOL
Court strikes down consecutive life sentences; mosque shooter has prison term cut

The decision was appealed by both the defence and the Crown

Gold medallists in the ice dance, free dance figure skating Tessa Virtue and Scott Moir, of Canada, pose during their medals ceremony at the 2018 Winter Olympics in Pyeongchang, South Korea, Tuesday, Feb. 20, 2018. THE CANADIAN PRESS/AP-Charlie Riedel
Olympic champions Virtue, Moir and Tewksbury among 114 Order of Canada inductees

Moir and Virtue catapulted to national stardom with their gold-medal performances at the Winter Olympics in 2018

Shoppers line up in front of a shop on Montreal’s Saint-Catherine Street in search of Black Friday deals in Montreal, Friday, Nov. 27, 2020. THE CANADIAN PRESS/Paul Chiasson
Black Friday shopping in a pandemic: COVID-19 closes some stores, sales move online

Eric Morris, head of retail at Google Canada, says e-commerce in Canada has doubled during the pandemic.

Most Read