Canadian Consumer Price Index Increases 3.8% Year-Over-Year in September
Consumer Price Index, September 2023
Statistics Canada (StatCan) reported on Tuesday (10-17-23) that in September, the Consumer Price Index (CPI) increased 3.8% on a year-over-year basis, down from August’s 4.0% gain. The year-over-year deceleration was broad-based, including lower prices for durable goods, groceries, and some travel-related services.
The deceleration in the all-items CPI was offset by a year-over-year increase in gasoline prices, which rose at a faster pace in September, up 7.5%, compared to August’s increase of 0.8% due to a base year effect. Excluding gasoline, the CPI rose 3.7% in September, following a 4.1% increase in August.
On a monthly basis, the CPI fell 0.1% in September, after posting a 0.4% increase in August. The monthly slowdown was mainly driven by lower month-over-month prices for gasoline, which posted a 1.3% decline. On as seasonally adjusted monthly basis, the CPI rose 0.2%, stemming from travel-related services.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.