What happened to inflation in Canada in October?

The annual rate of inflation in Canada held steady at 6.9 per cent in October amid dropping pressure on grocery prices, according to Statistics Canada. October’s Consumer Price Index (CPI) reading matches that of September. Economists had been expecting the CPI to accelerate last month as gas prices rose in October.

What is Canada's inflation rate?

Canada's annual inflation rate held steady at 6.9 per cent last month. After declining for several months, Statistics Canada said the rate of inflation was unchanged in October from September as gas prices went up.

What was the inflation rate in Canada in October 2022?

Anne Gaviola reports – Nov 16, 2022 The annual rate of inflation in Canada held steady at 6.9 per cent in October amid dropping pressure on grocery prices, according to Statistics Canada. October’s Consumer Price Index (CPI) reading matches that of September.

Is inflation above the bank of Canada's target range?

October marked seven straight months that headline Inflation has come in above the Bank of Canada's target range of between one and three per cent, which has not been seen since a similar run ended in December 1991.