Statistics Canada to release September reading for inflation

By The Canadian Press on October 15, 2024.

OTTAWA – Statistics Canada is expected to publish its inflation reading for the month of September today.

Economists are forecasting another decline in annual inflation last month after it slowed to two per cent in August, the slowest pace since February 2021.

The result for August brought the annual rate in line with the Bank of Canada’s target for inflation.

The September inflation report is the last major economic data point before the central bank’s next interest rate decision on October 23.

The Bank of Canada has cut its key interest rate three times this year to bring it to 4.25 per cent, after it started hiking rates in March 2022.

In recent months, concern has shifted away from inflation as it steadily subsided, and toward the labour market, which has been weakening under the weight of higher rates.

This report by The Canadian Press was first published Oct. 15, 2024.

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