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

Excerpts from a conversation between Bria Fisher and the fake truLOCAL job. Fisher had signed a job agreement and was prepared to start work for what she thought was truLOCAL before she learned it was a scam. (Contributed)
Harrison woman warning others after losing $3,000 in job scam

Bria Fisher was hired by what she thought was a Canadian company, only to be out thousands

Fraser Canyon Hospital, located at 1275 7th Avenue in Hope, is one of two local COVID-19 vaccination sites. Seniors over the age of 90 and First Nations elders and seniors are the first people eligible for vaccines; booking began on Monday, March 8, and administration begins on March 15. (Photo/Adam Louis)
ICYMI: Vaccine booking in Hope has begun

Seniors aged 90 and up, First Nations elders to be vaccinated next week

Once again Fraser East is among the health service delivery areas with the highest rate of COVID-19 transmission in the province. (Datawrapper)
Fraser East sees third highest rate of COVID-19 cases in B.C.

The region is seeing a sustained increase in new COVID-19 cases

Once a star player with the University of the Fraser Valley women’s basketball team, Kayli Sartori is moving into a new role coaching the next generation of Cascades. (UFV photo)
Chilliwack’s Kayli Sartori goes from court to coach with UFV basketball Cascades

Sartori is taking a new path as part of the U-Sports female basketball apprentice coaching program

The Kimber family of Boston Bar lost their home in a fire. Blaine Kimber’s daughter created a fundraiser to help rebuild the home with the goal of $100,000. (Screenshot/GoFundMe)
Fundraiser created for Boston Bar family that lost everything in weekend fire

Witnesses say the Kimber family escaped the fire without injury, but their home is a total loss

(The Canadian Press)
‘Worse than Sept. 11, SARS and financial crisis combined’: Tourism industry in crisis

Travel services saw the biggest drop in active businesses with 31 per cent fewer firms operating

A special committee has been appointed to look at reforming B.C.’s police act and is inviting the public to make submissions until April 30, 2021. (Black Press media file)
Have thoughts on B.C.’s review of the provincial Police Act?

Submissions will be accepted until April 30

Cottonwoods Care Home in Kelowna. (Google Maps)
New COVID-19 outbreak at Kelowna care home includes fully vaccinated seniors: Henry

Two staff and 10 residents tested positive at Cottonwoods Care Centre

Some of the hundreds of pounds of trash removed by divers last month from Abbotsford’s Walmsley Lake.(Henry Wang photo)
VIDEO: Divers remove 462 pounds of trash from Abbotsford lake

Walmsley Lake dive uncovers several tires, hundreds of drink containers and a tent

Trent Miner is returning to the Vancouver Giants, the team announced. He has been released by the Colorado Eagles of the AHL.(Rik Fedyck/Vancouver Giants)
Trent Miner returns to play goal for Vancouver Giants

Netminder was part of epic 11-game winning-streak by Langley-based team

Provincial health officer Dr. Bonnie Henry and Health Minister Adrian Dix provide a regular update on the COVID-19 situation, B.C. legislature, March 2, 2020. (B.C. government)
B.C.’s COVID-19 cases: 545 Saturday, 532 Sunday, 385 Monday

Focus on Prince Rupert, Lower Mainland large workplaces

Rising accident rates and payout costs have contributed to billion-dollar deficits at ICBC. (Comox Valley Record)
B.C. appealing decision keeping ICBC injury cases in court

David Eby vows to ‘clip wings’ of personal injury lawyers

(Black Press Media files)
Hosts charged, attendees facing COVID fines after Vancouver police bust party at condo

Police had previously received 10 complaints about that condo

Most Read