ReportedShipping, energy & marketsCanada
Statistics Canada reports inflation rose to 3.1% as fuel costs climbed
- Mountain Time
- Local time
- 12:30 PM in Toronto
- Where
- Canada
Statistics Canada said Monday that annual inflation rose to 3.1% in September from 3.0% in August. Gasoline prices increased 27.8% year over year and fuel oil and other fuels rose 57.8%. OilPrice.com attributed persistently high fuel prices to the Middle East war.
Why it matters
The energy-driven inflation increase adds pressure ahead of the Bank of Canada's October 28 interest-rate decision and raises heating costs for households using oil, particularly in Atlantic Canada.
Source
- OilPrice.comoilprice.comPublished
Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels