Canada’s CPI rises 1.6 pct in September

OTTAWA, Oct. 15 (Xinhua) — Canada’s Consumer Price Index (CPI) rose 1.6 percent on a year-over-year basis in September, down from a 2 percent gain in August, Statistics Canada said on Tuesday.
This was the smallest yearly increase since February 2021,and the main contributor to headline deceleration was lower year-over-year prices for gasoline in September, the national statistical agency said.
The all-items CPI excluding gasoline rose 2.2 percent in September, matching the increase in August for this measure, the agency said.
According to the agency, although the rate at which prices are increasing has slowed, price levels remain elevated. Compared with September 2021, the CPI rose 12.7 percent in September. Canadians continue to feel the impact of higher price levels for day-to-day basics such as rent and food purchased from stores, which increased more than 20 percent during that same 3-year period.
On a monthly basis, the CPI fell 0.4 percent in September, after a 0.2 percent decline in August. Both the monthly and yearly movement in September were led by lower prices for gasoline, said Statistics Canada. ■