People shop at a grocery store in Toronto, on Nov. 22, 2022. Reuters/Carlos Osorio
OTTAWA—Canada’s annual inflation rate increased to 2.4 percent in September mainly led by a smaller decline in gasoline prices on a yearly basis when compared with the previous month and rise in food prices, data showed on Tuesday.
This is the most crucial data point to be released before the Bank of Canada meets for its next monetary policy decision scheduled for later this month and will be closely watched by economists to gauge where the bank would cut rates again.
