Canada's Inflation Rate Rises to 3.1% in September, Statistics Canada Says

Canada's annual inflation rate edged up to 3.1% in September from 3% the month before, according to Consumer Price Index data released Monday by Statistics Canada. The reading came in slightly under what analysts had been projecting, according to Breaking The News.

Measured month over month, prices rose 0.1% from August. On a seasonally adjusted basis, the monthly increase was 0.4%.

Gasoline was the dominant force behind the annual figure. Pump prices climbed 27.8% compared with September of the previous year, the agency said. When gasoline is stripped out of the basket, inflation rose 2.2% on an annual basis — well below the headline number.

The Canadian release arrived alongside a batch of economic data from China published the same day by the National Bureau of Statistics, covering third-quarter gross domestic product, September industrial production, retail sales and the urban unemployment rate. Together the reports offered a snapshot of price and output conditions across major economies.

September's CPI figure marks a modest acceleration from August, keeping the annual rate above the 3% threshold. The breakdown shows energy costs continuing to shape the headline number, while the core measure that excludes gasoline sits more than a percentage point lower.