Consumer prices rose 1.2 per cent in the 12 months to October, matching the increases in September and August, according to data released by Statistics Canada on Nov. 23.
On a seasonally adjusted monthly basis, the consumer price index (CPI) increased 0.3 per cent in October after rising 0.2 per cent in September.
Gasoline prices increased 4.0 per cent in the 12 months to October, following an increase of 4.7 per cent the previous month. Electricity prices rose 1.7 per cent year-over-year in October after a 6.0 per cent increase in September, while the cost of natural gas fell 11.6 per cent in the 12 months to October, after decreasing 14.2 per cent in September.
Energy prices rose 1.7 per cent in the 12 months to October, after a 2.9 per cent increase in September.
Food prices increased 2.0 per cent, following a 1.6 per cent increase in September. Statistics Canada attributes October’s increases to year-over-year price gains for meat and meals purchased from restaurants.
In the United States, the consumer price index increased 0.1 per cent in October on a seasonally adjusted basis, and the all-items index increased 2.2 per cent before seasonal adjustment, the U.S. Bureau of Labor Statistics reported on Oct. 16.
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