Statistics Canada says the annual inflation rate continued to slow in September as drivers paid lower prices for gasoline than they did last year.
The agency said Tuesday its consumer price index for September was up 1.6 percent from a year ago compared with a year-over-year increase of two percent in August.
It was the slowest annual pace for inflation since February 2021 when it was 1.1 percent.
Gasoline prices in September fell 10.7 percent compared with a year earlier. Excluding gasoline, the annual pace of inflation was 2.2 percent in September.
Meanwhile, rent prices increased at a slower pace in the month but remained elevated as they rose 8.2 percent compared with a year ago following a year-over-year gain of 8.9 percent in August….