On Nov. 20, 2019, Statistics Canada reported the overall rise in prices came as food prices rose 3.7 per cent compared with a year ago. (File photo by THE CANADIAN PRESS)

On Nov. 20, 2019, Statistics Canada reported the overall rise in prices came as food prices rose 3.7 per cent compared with a year ago. (File photo by THE CANADIAN PRESS)

StatCan reports annual pace of inflation held steady at 1.9 per cent in October

OTTAWA — The annual pace of inflation held steady in October as the consumer price index rose 1.9 per cent compared with a year ago, matching its moves in August and September, Statistics Canada said Wednesday.

The result was also in line with the expectations of economists, according to financial markets data firm Refinitiv.

The overall rise in prices came as food prices rose 3.7 per cent compared with a year ago. Fresh fruit prices rose 7.9 per cent and fresh vegetable prices climbed 7.5 per cent.

Compared with a year ago, the price of gasoline was down 6.7 per cent in October compared with a 10.0 per cent decline in September. Natural gas prices rose 3.3 per cent compared with a year ago following a 5.8 per cent increase in September.

Statistics Canada said although global demand for oil remained low in October, there were slight price increases on a monthly basis due to temporary supply disruptions in the Middle East and a drop in crude oil inventories in the United States.

Excluding gasoline, the annual pace of inflation was 2.3 per cent in October, down from 2.4 per cent in September.

The average of Canada’s three measures for core inflation, which are considered better gauges of underlying price pressures, was 2.07 per cent compared with a revised figure of 2.03 per cent in September.

The core readings are closely monitored by the Bank of Canada, which adjusts its key interest rate target to manage inflation.

Regionally, prices were up 2.3 per cent compared with a year ago in Quebec, while Manitoba and B.C. both saw increases of 2.2 per cent. The annual pace of inflation was 1.7 per cent in Ontario.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Canadian drivers may not be as courteous as they thing, says a new survey.
Black Press file photo
83% of Alberta drivers admit to speeding: survey

97% of drivers admit to aggressive or road rage-like behaviour

Council approved a $3 million grant and a $19 million loan Tuesday to help keep Westerner Park sustainable. (Advocate file photo)
Red Deer city council approves $22M to keep Westerner Park viable after emotional debate

It’s vital ensure future success for the huge economic generator, says mayor

Red Deer Rebels goalie Chase Coward tries to find a loose puck during WHL action at the Centrium earlier this season. (Photo by ROB WALLATOR/Red Deer Rebels)
Changes on the horizon for Red Deer Rebels next season

New coach, roster adjustments among top priorities for Sutter this offseason

Renovations and construction have begun at Red Deer Dream Centre. (Photo contributed)
Renovations underway at Red Deer Dream Centre

Christian-based addictions treatment centre

Alberta Premier Jason Kenney. THE CANADIAN PRESS/Jason Franson
Here is a list of latest COVID-19 restrictions in effect in Alberta

New mandatory health restrictions are now in effect in Alberta. Additional restrictions… Continue reading

An Empire Day/Victoria Day gathering of school children on Ross Street by the Cenotaph in the 1920s. On the right hand side, are members of the Red Deer Citizens Band (forerunner of the Red Deer Royals). (Photo via Red Deer Archives)
Victoria Day event helped after war

One hundred years ago, on May 24, 1921, a major community event… Continue reading

Gwynne Dyer
Gwynne Dyer: Independence is a one-way gate

Nicola Sturgeon, First Minister of Scotland declared in 2014 that the referendum… Continue reading

Boston Bruins left wing Nick Ritchie (21) and Washington Capitals defenseman Brenden Dillon (4) battle for the puck during the first period of an NHL hockey game, Tuesday, May 11, 2021, in Washington. (AP Photo/Nick Wass)
Raffl’s late goal pushes Capitals past Bruins, 2-1

Raffl’s late goal pushes Capitals past Bruins, 2-1

Chicago Blackhawks left wing Alex DeBrincat (12) celebrates with teammates after scoring a goal during the second period of an NHL hockey game against the Florida Panthers in Chicago, Saturday, May 1, 2021. (AP Photo/Nam Y. Huh)
Toews’ question chases Chicago Blackhawks into offseason

Toews’ question chases Chicago Blackhawks into offseason

Wheeler has two goals, two assists as Winnipeg Jets clinch third in North Division

Wheeler has two goals, two assists as Winnipeg Jets clinch third in North Division

Depleted Raptors drop a 115-96 decision to Leonard and Clippers

Depleted Raptors drop a 115-96 decision to Leonard and Clippers

Denis Shapovalov, of Canada, tosses the ball for a serve to Ilya Ivashka, of Belarus, during the Miami Open tennis tournament Saturday, March 27, 2021, in Miami Gardens, Fla. THE CANADIAN PRESS/AP/Wilfredo Lee
Canadian Felix Auger-Aliassime upsets Diego Schwartzman at Italian Open

Canadian Felix Auger-Aliassime upsets Diego Schwartzman at Italian Open

Philadelphia Flyers' James van Riemsdyk (25) and Sean Couturier (14) celebrate past New Jersey Devils' Yegor Sharangovich (17) after a goal by van Riemsdyk during the third period of an NHL hockey game, Monday, May 10, 2021, in Philadelphia. (AP Photo/Matt Slocum)
Flyers drop from trendy East favorite to another lost season

Flyers drop from trendy East favorite to another lost season

Most Read