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MNI: Canada CPI Slowest In 3-1/2 Years On Gas, Core Steady

Headline inflation slows more than economists predicted in September.

Canadian inflation slowed to the lowest in three-and-a-half years in September, down more than economists predicted on a drop in gasoline prices, and coming below the central bank's 2% target for the first time since the price surge during the pandemic rebound.

The consumer price index slowed to 1.6% from a year ago, Statistics Canada said Tuesday from Ottawa, lower than August's 2.0% and the market consensus for a 1.8% increase. Gasoline prices led the moderation, down 11% versus the prior 5% decline.

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Canadian inflation slowed to the lowest in three-and-a-half years in September, down more than economists predicted on a drop in gasoline prices, and coming below the central bank's 2% target for the first time since the price surge during the pandemic rebound.

The consumer price index slowed to 1.6% from a year ago, Statistics Canada said Tuesday from Ottawa, lower than August's 2.0% and the market consensus for a 1.8% increase. Gasoline prices led the moderation, down 11% versus the prior 5% decline.

Keep reading...Show less