Canada's Inflation Down to 2.9% in October

Canada's consumer prices rose 2.9% in the 12 months to October, led by higher prices for gasoline and food. This follows a 3.2% increase in September., Statistics Canada 11/18/2011 3:17:22 PM

Energy prices increased 11.7% during the 12 months to October, easing from the 12.5% gain in September. On a year-over-year basis, gasoline prices rose 18.2%, after advancing 22.7% in September. Prices for fuel oil increased 22.1% in October, following a 27.4% rise the month before. Prices for electricity rose while prices for natural gas continued to decline.

Consumers paid 4.3% more for food in the 12 months to October, matching the gain posted in September.

Excluding food and energy, the Consumer Price Index (CPI) increased 1.5% in the 12 months to October, following a 1.9% advance the month before.

On a seasonally adjusted monthly basis, consumer prices increased 0.3% from September to October, after rising 0.4% the month before. The transportation index, which includes the purchase of passenger vehicles, advanced 1.3%, matching the increase in September.