The agency said Tuesday that its consumer price index for September rose 1.6% from a yr earlier, compared with a 2% year-on-year increase in August.
It was the slowest annual inflation rate since February 2021, when it was 1.1%.
Gasoline prices fell 10.7% in September in comparison with a yr ago. Excluding gasoline, annual inflation was 2.2% in September.
Meanwhile, rental prices rose more slowly over the month but remained high, up 8.2% year-on-year, after rising 8.9% year-on-year in August.
Food prices rose 2.4%, rising faster than overall inflation
According to Statistics Canada, prices for food purchased in stores rose faster than overall inflation, rising 2.4% in September, the identical rate as August. Prices of fresh or frozen beef rose 9.2%, while cooking fats and oils rose 7.8% and eggs rose 5%.
Prices of food purchased at restaurants rose 3.5%, compared with 3.4% in August.
The inflation report is the last piece of key economic data before the Bank of Canada’s rate of interest decision on October twenty third.
The central bank, which has an inflation goal of two%, has cut its key rate of interest thrice thus far this yr to 4.25%.
