Statistics Canada says CPI for October up 1.4 per cent from year ago
OTTAWA — The annual pace of inflation cooled in October as the cost of gasoline came back down after spiking higher in September when hurricane Harvey forced the shutdown of oil refineries in Texas.
Statistics Canada said Friday the consumer price index was up 1.4 per cent in October compared with a year ago, following a 1.6 per cent increase in September.
The cost of gasoline was up 6.5 per cent year-over-year in October, compared with a 14.1 per cent year-over-year increase in September. On a month-over-month basis, the cost of gasoline fell 3.2 per cent.
Excluding gasoline, the index was up 1.3 per cent compared with a year ago — more than the 1.1 per cent increase in September.