Statistics Canada to release September inflation data this morning
Posted October 19, 2022 4:00 am.
Last Updated October 19, 2022 4:02 am.
OTTAWA — Statistics Canada is expected to release September inflation numbers this morning.
In August, Canada’s annual inflation rate slowed to 7.0 per cent, largely driven by the price of gasoline falling, but the cost of groceries continued to climb.
RBC expects the annual inflation rate to come in at 6.7 per cent for September.
At the same time, the bank says core measures of inflation, which are less volatile, are unlikely to decline because of strong demand for services in the economy.
The latest CPI report will come one week ahead of the Bank of Canada’s next interest rate decision.
With inflation running well above its two per cent target, the Bank of Canada is expected to deliver another interest rate hike, making it the sixth consecutive increase this year.
This report by The Canadian Press was first published Oct. 19, 2022.
The Canadian Press
