Canada’s annual inflation rate rose to 2.4 per cent in September, as grocery prices rose and gas and travel tour prices fell at a slower pace, Statistics Canada said Tuesday.<\/p>\n
Economists were expecting the headline number to reach 2.2 per cent. When excluding gas, the annual inflation rate increased to 2.6 per cent, the data agency said.<\/p>\n
Shoppers paid four per cent more at the grocery store in September compared to the same period last year, largely driven by pricier fresh vegetables and sugar and confectionery. <\/p>\n
Grocery inflation has generally trended upward since April, Statistics Canada said. Fresh and frozen beef and coffee have contributed to the higher rate, partly because they’re both in low supply.<\/p>\n
Gas prices fell at a slower pace in September \u2014 4.1 per cent on a yearly basis \u2014 compared to the same period last year.<\/p>\n
Last year, prices fell due to a drop in crude oil prices that emerged from concerns over weaker economic growth in the U.S. and China; last month, refinery disruptions in the U.S. and Canada pushed petrol prices higher, according to Statistics Canada.<\/p>\n
The cost of travel tours also fell at a slower pace year-over-year in September. <\/p>\n
While prices usually decline on a monthly basis during this time of the year, prices rose 4.6 per cent from August, as big events in the U.S. and Europe made hotels more expensive.<\/p>\n","protected":false},"excerpt":{"rendered":"Canada’s annual inflation rate rose to 2.4 per cent in September, as grocery prices rose and gas and…\n","protected":false},"author":2,"featured_media":229424,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46],"class_list":["post-229423","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-ca","tag-canada","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/229423","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=229423"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/229423\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/229424"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=229423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=229423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=229423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}