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Ekonomické zprávy
20.10.2021

Canada’s annual inflation accelerates slightly more than anticipated in September

Statistics Canada reported on Wednesday the country’s consumer price index (CPI) rose 0.2 percent m-o-m in September, the same pace as in the previous month. 

On a y-o-y basis, Canada’s inflation rate jumped 4.4 percent last month, accelerating from 4.1 percent in August. This was the highest rate since February 2003.

Economists had predicted inflation would increase 0.1 percent m-o-m and 4.3 percent y-o-y in September.

According to the report, prices increased in every major component in September, with transportation prices (+9.1 percent y-o-y) contributing the most to the all-items gain, mainly reflecting a 32.8 percent y-o-y surge in gasoline prices. Higher shelter (+4.8 percent y-o-y) and food prices (+3.9 percent y-o-y) also supported the growth. Excluding gasoline prices, the CPI rose 3.5 percent y-o-y in September.

Meanwhile, the closely watched the Bank of Canada's core index jumped 3.7 percent y-o-y in September, following a 3.5 percent y-o-y surge in August. 

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