“Statistics Canada says the annual inflation rate slowed to 3.8% in September as prices year-over-year rose more slowly across the economy.
The latest data comes after the annual rate flared up during the summer, reaching 4% in August.
The report shows consumers paid significantly less for airfare compared with a year ago, while prices for durable goods rose more slowly.
Meanwhile, higher gasoline prices put upward pressure on inflation, as prices were 7.5% higher than they were in September 2022.
The latest data comes a week ahead of the Bank of Canada’s next interest rate announcement and updated forecast for inflation.”
*This article is excerpted from Canadiangrocer.com website, published 17th October 2023