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Inflation rate slows to 3.8% in September

By Brad Perry Oct 17, 2023 | 12:07 PM

Grocery prices continue to rise at a faster rate than overall inflation, according to new figures from Statistics Canada.

The Consumer Price Index edged down to 3.8 per cent in September, compared to four per cent the previous month.

“The year-over-year deceleration was broad-based, stemming from lower prices for some travel-related services, durable goods and groceries,” StatCan said in its monthly report, released Tuesday.

Meanwhile, gasoline prices were up 7.5 per cent year over year in September compared to 0.8 per cent in August, which offset the deceleration of the overall inflation rate.

StatCan said the increase was mainly driven by a base-year effect, as prices fell 7.4 per cent month over month amid an increase in the global supply of crude oil.

“Prices at the pump accelerated the most in Eastern Canada on a year-over-year basis in September 2023,” said the agency.

“In Western Canada, refinery shutdowns limited supply in September 2022, which kept gasoline prices higher that year. As a result, gasoline prices in western provinces did not fall to the same extent from August to September 2022.”

Provincial inflation numbers

Year over year, prices increased in all provinces in September but rose at a slower pace compared with August in six provinces.

Nova Scotia (4.8 per cent), Quebec (4.8 per cent), Newfoundland and Labrador (4.1 per cent) and New Brunswick (4.0 per cent) had the highest rates of inflation.

That was followed by Alberta (3.7 per cent), Ontario (3.6 per cent), Saskatchewan (3.5 per cent), British Columbia (3.3 per cent), Prince Edward Island (2.8 per cent) and Manitoba (2.6 per cent).

You can view the full report on Statistics Canada’s website.