OTTAWA, Nov. 19 (Xinhua) -- Canada's Consumer Price Index (CPI) rose 2 percent on a year-over-year basis in October, up from a 1.6 percent increase in September, as gasoline prices fell to a lesser extent, Statistics Canada said Tuesday.
The all-items CPI, excluding gasoline, rose 2.2 percent in October, the same growth rate as in August and September.
Prices for goods rose 0.1 percent on a year-over-year basis in October, following a 1 percent decline in September. In contrast, prices for services decelerated in October, rising 3.6 percent, the smallest yearly increase since January 2022. Over the past three years, prices for goods rose 10.2 percent, while prices for services increased 14.2 percent.
On a monthly basis, the CPI rose 0.4 percent in October, following a 0.4 percent decline in September. On a seasonally adjusted monthly basis, the CPI increased 0.3 percent.
Year over year, gasoline prices fell 4 percent in October compared with 10.7 percent in September. The smaller decline is partly attributed to a base-year effect, as prices fell 6.4 percent month over month in October 2023, stemming from lower refining margins and weaker global oil consumption, according to the national statistical agency.
