Oct 17, 2023

By Bob Komsic

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Like the fall temperatures, Canada’s annual inflation rate cooled to 3.8% in September as prices rose more slowly year-over-year.
It was 4% in August.
Statistics Canada says the decline was ”broad-based” and was the result of lower prices for several goods and services, including durable goods, some grocery items and travel.
On a monthly basis, cost-of-living actually dropped by 0.1% – first time that’s happened since November last year.
Pump prices fell by 1.3% last month but are still up by 7.5% the past 12-months.
Remove gasoline out of the equation and the rate would have been 3.7%.
Grocery prices continued climbing but at a slower pace.
Cost of filling up a grocery basket rose 5.8% year-over-year, which is down from over 11% this time a year ago.
It’s because prices increases for many food items are slowing down and even falling for items such as bananas, grapes, bacon and some cheeses.
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