Wednesday, October 8, 2025

Latest

Canada’s Inflation Rate Suddenly Increases to 0.7% in October as Shelter Costs Accelerate

It appears that inflation levels in Canada surprisingly surpassed expectations for the month of October, despite ongoing struggles with the country’s economic recovery and a resurgence of coronavirus cases.

According to the latest Statistics Canada data, annual inflation grew from 0.5% to 0.7% in October, which exceeded forecasts of the 0.4% inflation level projected by economists surveyed by Bloomberg. On a month-over-month basis, prices increased by 0.4%, which is 0.2% more than the median forecast. The sudden rise in inflation was largely due to rising home ownership costs, which according to the homeowners’ index, jumped by 1.4%, the biggest monthly increase since the early 1990s.

However, despite the increase in inflation, price pressures remain subdued due to ongoing economic recovery struggles and the reintroduction of restrictions in certain regions across Canada. As a result, the Bank of Canada is anticipating that the continued gap in economic output and the labour market will keep inflation levels under the 2% target rate until at least 2023.


Information for this briefing was found via Statistics Canada and Bloomberg. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Canada Keeps Supply Management Despite Push to Remove Trade Barriers

Canada will keep its controversial supply management system for dairy and poultry products while pursuing...

Tuesday, February 11, 2025, 07:29:57 AM

Fed Minutes Suggest Policy Makers Can’t Decide Between Slowing Hikes or Keeping Rates High

The freshly-released minutes from this month’s FOMC meeting suggest most members believe its may soon...

Wednesday, November 23, 2022, 03:52:44 PM

Average Detached Home Prices In Mississauga Fall Over $523,000 Since January

September 2022 rates saw the average price of a detached home in Mississauga drop year...

Wednesday, October 12, 2022, 02:16:00 PM

Housing Sales in Toronto Surge in June, Prices Skyrocket as a Result

As restrictions continue to be lifted across Canadian provinces, consumers have been flocking to the...

Wednesday, July 8, 2020, 03:27:00 PM

Canadian GDP Unexpectedly Falls 1.1% in Q2, Fueling Concerns of Economy’s Resilience

Canada’s economy unexpectedly contracted in the second quarter, giving rise to concerns over the strength...

Monday, September 6, 2021, 01:08:00 PM