Canada’s inflation rate rose to 3.1 percent in September due to higher prices at the pump, according to Statistics Canada.
The agency said the acceleration in prices was driven by higher gasoline prices, which rose by 27.8 percent in September compared to 22.8 percent in August. That month, the inflation rate was at 3 percent.
The Oct. 19 report said crude oil prices rose in September amid ongoing uncertainty surrounding conflicts in the Middle East, contributing to higher gasoline prices. Prices for fuel oil and other fuels rose 57.8 percent year over year in September, following a 43.7 percent increase in August.
Excluding gasoline, the inflation rose by 2.2 percent, compared to 2.4 percent in August….