Canada’s annual inflation rate slowed to 3.8 per cent in September as prices for a range of goods and services rise more slowly, including durable goods and grocery prices.
Canada's inflation rate edged down to 3.8 per cent last month as price pressures eased across the economy, setting the stage for the Bank of Canada to hold its key interest rate steady next week, economists say.
Economists reacting to the latest inflation data say that it adds more evidence that the Bank of Canada, which is gearing up for a rate decision on Oct. 25, can remain on the sidelines and wait for inflation to continue falling. "The softer economic backdrop suggests we should see inflation continue to slow as we head into 2024," Reitzes said.
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