StatCan says inflation was down in October: due to lower gas, grocery prices

Statistics Canada is reporting that inflation is down for October by 0.2 per cent, attributing the decrease to lower gas and grocery prices.

This makes October’s inflation rate, as reported by StatCan, 2.2 per cent.

StatCan says gas prices are down 4.8 per cent and grocery prices are down 0.6 per cent on a monthly basis for October.

This is the biggest month-to-month decline for grocery prices since September 2020.

The October inflation report shared by StatCan is the Bank of Canada’s last chance to look at price data before it makes its interest rate decision for Dec. 10.

With files from the Canadian Press. 

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