Canada's annual inflation falls to 3.8% in September, grocery prices rise more slowly
CTV
Canada's annual inflation rate fell to 3.8 per cent in September, down from four per cent the previous month.
Canada's annual inflation rate slowed to 3.8 per cent in September as prices for a range of goods and services rise more slowly, including durable goods and grocery prices.
Statistics Canada released its latest consumer price index report on Tuesday, which showed inflation resumed its decline, after rising during the summer to four per cent in August.
The federal agency said grocery prices were up 5.8 per cent in September on an annual basis compared with a year-over-year increase of 6.9 per cent in August.
The report shows the main upward pressures on annual inflation last month were mortgage interest costs, rent, food purchased from restaurants, gasoline and electricity.
Meanwhile, lower prices for telephone services, natural gas, air transportation, childcare and housekeeping services and furniture helped pull inflation down.
The latest data comes a week before the Bank of Canada's next interest rate announcement and updated forecast for inflation.
The central bank's key interest rate sits at five per cent, the highest it's been since 2001.
