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Canada's annual inflation rate rose to 3.1% in September

Canada's annual inflation rate rose to 3.1% in September, Statistics Canada data released on Monday showed, pushing the CPI above the Bank of Canada's upper limit after three months.
Following a 15.4% rise the previous month, energy prices surged 19% on an annual basis, with gasoline costs specifically climbing 27.8% year on year.
Rents increased by 2.8% in September, while Grocery prices rose at a slower pace of 1.7% and Air transportation costs jumped 19.4% compared to the previous year.
Money markets are betting the Bank will hold its rate at 2.25% on October 28, although they are pricing in a 25 basis point hike later this year.
The September report provides the final CPI data before the BoC's upcoming monetary policy decision, as The BoC Governor Tiff Macklem indicated new forecasts will show higher inflation in Canada.

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Rising Gas Prices Pushed Inflation Rate Up in September

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Inflation Climbs to 3.1 Percent in September Amid High Fuel Prices: StatCan

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Canada CPI Rises to 3.1%, Core Inflation Cools

Canada's annual inflation rose to 3.1% in September as gasoline jumped 27.8% year over year, while core measures cooled to a six-year low of 1.85%. · 23 sources across the spectrum on IJR News.

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