Canada’s Inflation Reaches 3.1% in September as Core Rate Eases

Canada’s annual inflation rate rose to 3.1% in September as higher energy costs lifted the overall reading, while core inflation eased to 1.85% ahead of the Bank of Canada’s Oct. 28 rate decision.

Higher energy costs drove the increase in the overall rate.

Core inflation cooled to 1.85%.

The difference between the two readings suggests that September’s price pressure was concentrated in energy.

The Bank of Canada’s next rate announcement is scheduled for Oct. 28.