Canada’s inflation rate remains 1.2 per cent in October, third month in a row

OTTAWA – Statistics Canada says Octobers inflation rate was 1.2 per cent, unchanged for the third straight month.

The rate was slightly higher than economists had anticipated, given that gasoline prices were known to have fallen during the month.

Analysts had generally expected the inflation rate to fall to 1.1 per cent.

On a month-to-month basis, October’s prices rose 0.2 per cent from September, the same increase as in the two previous months.

The main contributors to inflation in October were food which rose two per cent from a year earlier, property taxes, up 2.8 per cent, and homeowner replacement costs, which were 2.2 per cent higher.

However, mortgage interest costs, natural gas, women’s clothing, video equipment and computer equipment and software all cost less last month than they did in October last year.