Statistics Canada to release September inflation reading this morning
By The Canadian Press on October 17, 2023.
OTTAWA – Statistics Canada is set to release its September inflation reading this morning. Progress on getting inflation down has stalled in recent months as underlying price pressures remain broad in the economy. Canada’s inflation rate accelerated for two consecutive months, reaching four per cent in August. RBC Economics says it expects the annual inflation rate edged down to 3.8 per cent last month and that it will continue falling moving forward. The commercial bank also expects food inflation, which has been a major concern for families, to continue trending downward. Today’s inflation report comes ahead of the Bank of Canada’s next interest rate announcement slated for Oct. 25. This report by The Canadian Press was first published Oct. 17, 2023. 8-7
