FILE – The Statistics Canada offices in Ottawa are pictured, May 1, 2013. THE CANADIAN PRESS/Sean Kilpatrick

FILE – The Statistics Canada offices in Ottawa are pictured, May 1, 2013. THE CANADIAN PRESS/Sean Kilpatrick

Annual rate of inflation rose to 0.7 per cent in October, Statistics Canada says

The increase compared with a year-over-year rise of 0.5 per cent in September

Statistics Canada says the consumer price index in October was up 0.7 per cent compared with a year ago as the annual pace of inflation increased led by higher food prices.

The increase compared with a year-over-year rise of 0.5 per cent in September.

Economists had expected a year-over-year increase of 0.4 per cent, according to financial data firm Refinitiv.

The jump in October is the sharpest increase since June amid an eight-month spell where monthly readings have been under one per cent.

The monthly rise was almost entirely driven by rising food prices, particularly lettuce and fresh or frozen chicken, Statistics Canada says.

The agency says rising housing costs contributed the most to the year-over-year increase as lower mortgage rates have coincided with increased demand for single-family homes.

The Canadian Press


Like us on Facebook and follow us on Twitter.

Want to support local journalism during the pandemic? Make a donation here.

inflation

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Dr. Bernhardt’s freshly planted strawberries. (Mary Lowther photo)
Mary Lowther column: Hoping for a bumper crop of strawberries

Because our new plot gets a lot of sun, maybe strawberries won’t become consumed by wood bugs

Sarah Simpson
Sarah Simpson Column: Newton’s first law of motion

I could have sworn I told them to help each other get unbuckled and to come inside.

Commercial property owners in Duncan will have an opportunity to beef up their security in 2021 with matching grants from the municipality. (File photo)
City of Duncan to help commercial properties increase security

Municipality to set up matching grant opportunities

John and Jeri Wyatt hope the upcoming North Cowichan public hearing will move things along toward exclusion of the Chemainus River Campground from the Agricultural Land Reserve. (Photo by Don Bodger)
Input sought on Chemainus campground ALR exclusion at public hearing

Matter back on the agenda after a late reprieve in 2019 for Chemainus River Campground owners

Vancouver resident Beryl Pye was witness to a “concerning,” spontaneous dance party that spread throughout social groups at Kitsilano Beach on April 16. (Screen grab/Beryl Pye)
VIDEO: Dance party erupts at Vancouver’s Kitsilano Beach to the dismay of onlookers

‘It was a complete disregard for current COVID-19 public health orders,’ says Vancouver resident Beryl Pye

Lord Tweedsmuir’s Tremmel States-Jones jumps a player and the goal line to score a touchdown against the Kelowna Owls in 2019. The face of high school football, along with a majority of other high school sports, could significantly change if a new governance proposal is passed at the B.C. School Sports AGM May 1. (Malin Jordan)
Power struggle: New governance model proposed for B.C. high school sports

Most commissions are against the new model, but B.C. School Sports (BCSS) and its board is in favour

Russ Ball (left) and some of the team show off the specimen after they were able to remove it Friday. Photo supplied
Courtenay fossil hunter finds ancient turtle on local river

The specimen will now make its home at the Royal BC Museum

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Pall Bearers carrying the coffin of the Duke of Edinburgh, followed by the Prince of Wales, left and Princess Anne, right, into St George’s Chapel for his funeral, at Windsor Castle, in Windsor, England, Saturday April 17, 2021. (Danny Lawson/Pool via AP)
Trudeau announces $200K donation to Duke of Edinburgh award as Prince Philip laid to rest

A tribute to the late prince’s ‘remarkable life and his selfless service,’ the Prime Minister said Saturday

B.C. homeowners are being urged to take steps to prepare for the possibility of a flood by moving equipment and other assets to higher ground. (J.R. Rardon)
‘Entire province faces risk’: B.C. citizens urged to prepare for above-average spring flooding

Larger-than-normal melting snowpack poses a threat to the province as warmer weather touches down

Vancouver-based Doubleview Gold Corp. is developing claims in an area north of Telegraph Creek that occupies an important place in Tahltan oral histories, said Chad Norman Day, president of the Tahltan Central Government. (THE CANADIAN PRESS/HO)
B.C. Indigenous nation opposes mineral exploration in culturally sensitive area

There’s “no way” the Tahltan would ever support a mine there, says Chad Norman Day, president of its central government

Stz’uminus Elder George Harris, Ladysmith Mayor Aaron Stone, and Stz’uminus Chief Roxanne Harris opened the ceremony. (Cole Schisler photo)
Symbolic red dresses rehung along B.C. highway after vandals tore them down

Leaders from Stz’uminus First Nation and the Town of Ladysmith hung new dresses on Sat. April 17

A Western toadlet crosses the centre line of Elk View Road in Chilliwack on Aug. 26, 2010. A tunnel underneath the road has since been installed to help them migrate cross the road. Saturday, April 24 is Save the Frogs Day. (Jenna Hauck/ Progress File)
Unofficial holidays: Here’s what people are celebrating for the week of April 18 to 24

Save the Frogs Day, Love Your Thighs Day and Scream Day are all coming up this week

Most Read