Statistics Canada said CPI rose 3.1% YoY in September, driven by a 27.8% YoY
jump in gasoline (August: 22.8%). Core CPI excluding food and energy eased to
2.1% YoY. The BOC’s preferred core measures fell: the median to 1.9% and the
trimmed mean to 1.8%. CPI was up 0.1% MoM. Economists had forecast a 3.2%
headline print and unchanged core gauges. Slower-than-expected price growth and
softer core metrics could ease pressure on the BOC ahead of next week’s rate
decision.
