Inflation’s up again.
According to Statistics Canada, prices increased by 2.4 per cent in September compared with the same month last year.
The annual rate was 1.9 per cent in August.
In British Columbia, the September rate was 1.9 per cent, up slightly from August’s rate of 1.8 per cent.
StatCan highlighted the following national price changes in September:
Food: Up 3.8 per cent
Shelter: Up 2.6 per cent
Health and personal care: Up 2.6 per cent
Transportation: Up 1.5 per cent
Household operations, furnishings and equipment: Up 2.4 per cent
The agency said gas prices – which have been considerably down this year in part due to Ottawa’s decision to abandon its consumer carbon tax – fell less (-4.1 per cent) in September compared with August (-12.7 per cent).
That contributed to September’s higher overall rate, StatCan said, alongside a large increase in food bought from stores (four per cent).
Higher prices for travellers visiting Europe and the US also played a role, according to the agency, though travel tour costs still declined by 1.3 per cent in September.
In its inflation report published this morning, StatsCan made only one mention of BC. The agency said rent prices grew at a slower rate (1.8 per cent) in September, and “moderated the acceleration at the national level.”
That concords with data from individual rental markets in the province.
Today's inflation numbers will be assessed by the Bank of Canada as it considers its next interest rate decision, which is due on Oct. 29.
The current rate is 2.5 per cent.
