Given the run-up in gasoline prices, headline inflation coming in at 6.9 per cent isn't 'a terrible outcome,' says Doug Porter, chief economist at BMO Capital Markets From m_zadikian
Food inflation in Canada slightly moderated in October.
"While the result was right in line with the consensus call, any CPI that is no worse than expected should be viewed as a big win these days," Doug Porter, chief economist at BMO Capital Markets, said in a note.Gasoline prices surged more than nine per cent on a monthly basis, following a decrease in September, as OPEC announced it would cut production and a weakening loonie further lifted prices in Canada.
Although slowing price increases for food helped offset hotter prices at the pump, grocery bills still jumped 10.1 per cent year-over-year.Although the Bank of Canada's preferred trim and median core inflation measures accelerated in October, the three-month annualized rates that the central bank has been focused on as of late declined.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canada’s annual inflation rate steady at 6.9% in October as gas costs climbStatistics Canada says prices at the pumps rose 9.2 per cent following a summer of declines from record highs
Read more »
The Daily Chase: Canadian inflation stalls in October: Grocer earnings top analyst expectations - BNN Bloomberg‼️ Canadian inflation remains flat in October 🛒Loblaw and Metro top earnings estimates 🛍️Target sales slow Here's what you need to know today:
Read more »
Rising gas and food prices keep inflation at 6.9% in OctoberEconomists had predicted the annual rate of inflation wouldn’t drop much from the 6.9 per cent seen in September.
Read more »
Annual inflation rate was unchanged in OctoberStatistics Canada says the annual inflation rate was 6.9 per cent in October.
Read more »
Canada's inflation rate unchanged in October at 6.9% | CBC NewsCanada's inflation rate was 6.9 per cent in October, matching the pace seen the previous month.
Read more »
Canadian inflation comes in below expectations in OctoberCanada’s annual inflation rate held steady in October, but some key gauges of underlying price pressures trended higher, likely keeping the central bank on track to press ahead with interest rate hikes. BNN Bloomberg's Andrew Bell reports.
Read more »