Canada: Consumer Price Index (CPI) rose 1.6% on a year-over-year basis in September

Eren Sengezer FXStreet

"The Consumer Price Index (CPI) rose 1.6% on a year-over-year basis in September, following a 1.4% gain in August," the Statistics Canada announced on Friday.

Key takeaways:

The all-items CPI excluding gasoline rose 1.1% year over year in September, matching the gain in both July and August.
Prices were up in six of the eight major CPI components in the 12 months to September, with the transportation and shelter indexes contributing the most to the year-over-year rise.
Transportation costs rose 3.8% on a year-over-year basis in September, following a 2.8% increase in August.
For a third consecutive month, gasoline prices were the largest contributor to the gain in transportation prices and also to their acceleration.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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