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

Longtime basketball coach Allison McNeill is worried that the COVID-19 pandemic will adversely affect high-school athletes with university athletic aspirations. (Garrett James/Langley Events Centre photo)
COVID-19: Young athletes scrambling for scholarships, opportunities amid pandemic

‘They lost their whole Grade 12 year’ says Semiahmoo basketball coach Allison McNeill

When his owner had knee surgery, Kevin, 2, was able to continue to go for walks thanks to volunteers from Elder Dog Canada. (Contributed photo)
White Rock woman among dozens in Lower Mainland to benefit from Elder Dog program

Dog-care organization has a fleet of volunteer walkers ready, but requires more clients to serve

Travis Selje with Rex, the family dog he got to enjoy for the final six months of his life. (Submitted photo)
Defence says evidence ‘compelling, overwhelming’ to acquit Surrey woman in deadly crash

Epileptic seizure caused fatal crash that killed Travis Selje, lawyer argues in final submissions

(Delta Police Department photo)
Delta Police searching for driver in hit-and-run

Police looking for witnesses to the incident that happened about 2 p.m. Feb. 23 on Ladner Trunk Road

FILE – A COVID-19 vaccine being prepared. (Olivia Sullivan/Sound Publishing)
B.C. seniors 80 years and older to get COVID vaccine details over next 2 weeks: Henry

Province is expanding vaccine workforce as officials ramp up age-based rollout

Dr. Bonnie Henry talk about the next steps in B.C.'s COVID-19 Immunization Plan during a press conference at Legislature in Victoria, B.C., on Friday, January 22, 2021. THE CANADIAN PRESS/Chad Hipolito
456 new COVID-19 cases in B.C., 2 deaths

Since January 2020, 78,278 have tested positive for the novel coronavirus in B.C.

A health-care worker prepares a dose of the Pfizer-BioNTech COVID-19 vaccine at a UHN COVID-19 vaccine clinic in Toronto on Thursday, January 7, 2021. (THE CANADIAN PRESS/Nathan Denette)
Vaccinating essential workers before seniors in B.C. could save lives: experts

A new study says the switch could also save up to $230 million in provincial health-care costs

The late Michael Gregory, 57, is accused of sexually exploiting six junior high students between 1999 and 2005. (Pixabay)
Former Alberta teacher accused of sexually assaulting students found dead in B.C.

Mounties say Michael Gregory’s death has been deemed ‘non-suspicious’

A woman boards a transit bus through rear doors, in Vancouver, on Friday, March 20, 2020. THE CANADIAN PRESS/Darryl Dyck
TransLink slow to reveal crucial details about ransomware attack, says union

Union says company took months to admit what info was stolen, including SIN and bank account details

According to a new poll, a majority of Canadians want to see illicit drugs decriminalized. (THE ASSOCIATED PRESS)
Majority of Canadians think it’s high time to decriminalize illicit drugs: poll

More than two-times the B.C. residents know someone who died from an overdose compared to rest of Canada

Photograph By @KAYLAXANDERSON
VIDEO: Lynx grabs lunch in Kamloops

A lynx surprises a group of ducks and picks one off for lunch

(Black Press Media file photo)
B.C. residents can reserve provincial camp sites starting March 8

B.C. residents get priority access to camping reservations in province

Two women were arrested in Nanaimo for refusing to wear masks and causing disturbance on a BC Ferries vessel. (File photo)
B.C. ferry passengers arrested and fined for disturbance, refusing to wear masks

Police said woman threatened their pensions in Feb. 21 incident aboard Nanaimo-bound boat

Most Read