Canada’s Annual Inflation Rises to 3.1% in September as Gasoline Prices Accelerate

Canada’s Consumer Price Index rose 3.1% year over year in September, up from 3.0% in August, Statistics Canada reported on October 19. Gasoline prices climbed 27.8% compared with a year earlier, accelerating from 22.8% in August, while inflation excluding gasoline slowed to 2.2% from 2.4%. On a monthly basis, the CPI increased 0.1%, or 0.4% after seasonal adjustment. Grocery inflation eased to 1.7% from 2.8%, its smallest annual increase since May 2024, although food purchased from stores remained 33.0% more expensive than in September 2020.