Canada inflation rose to 3.1% in September

Canada’s annual inflation rate rose to 3.1% in September from 3.0% in August, as gasoline prices climbed sharply, Statistics Canada reported Monday. Inflation excluding gasoline eased to 2.2% from 2.4%, while grocery-price growth slowed. Gasoline prices were 27.8% higher than a year earlier, compared with a 22.8% annual increase in August. Statistics Canada said energy prices overall rose 19.0% year over year, accelerating from 15.4% in August. Fuel oil and other fuels rose 57.8%, affecting households in Atlantic Canada, where many homes use oil for heat. Grocery prices increased 1.7% year over year, down from 2.8% in August and the smallest annual increase since May 2024. The cost of fresh vegetables fell 2.9%, while sugar and confectionery prices declined 2.7%. Fresh or frozen beef prices rose 8.7%. Despite the slower pace of increases, grocery prices were 33% higher than in September 2020. Shelter costs rose 1.8% year over year, up from 1.5% in August. Home and mortgage insurance costs increased 4.9%, and home maintenance and repair costs rose 1.2%. Rent was up 2.8% from a year earlier, according to Statistics Canada. The report also showed tuition fees in Ontario rising...