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Canada's inflation rate up to 4.4 pct in September

OTTAWA
2021-10-21 00:55

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OTTAWA, Oct. 20 (Xinhua) -- Canada's Consumer Price Index (CPI) continued rising to hit 4.4 percent on a year-over-year basis in September, the highest since February 2003, due to increased prices for transportation, shelter and food, according to Statistics Canada on Wednesday.

The CPI rose 4.1 percent on a year-over-year basis in August.

September was the sixth consecutive month that headline inflation has clocked in above the Bank of Canada's target range of between 1 percent and 3 percent.

In September, transportation prices jumped 9.1 percent while shelter rose 4.8 percent and food prices were up 3.9 percent.

The country's consumers paid 32.8 percent more last month for gasoline than in September 2020.

The contributors to the year-over-year rise include lower price levels in 2020 and reduced crude output by major oil-producing countries compared with pre-COVID-19 pandemic levels.

Excluding gasoline, the annual inflation rose 3.5 percent year over year in September.
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