Statistics Canada is set to release September inflation data, with a Reuters poll expecting inflation to accelerate to 3.2% from 3% in August. Economists see persistently high energy prices as the main driver and will look for cost pressures spreading beyond gasoline. The report is the Bank of Canada's last look at price data before its October 28 interest rate decision. The central bank has signalled it will look through the initial inflation effects of the ongoing Middle East war but is prepared to raise its policy rate if inflation spreads.
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| Close on 10/16/2026 | 1.41389 |
| Change that session | -0.32% |
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Related news
- Statistics Canada set to release September inflation figures
Statistics Canada said annual inflation rose to 3.1% in September, led by a 27.8% jump in gasoline prices from a year earlier as Middle East war kept pushing up fuel costs, despite the switch to cheaper winter gas. Excluding gasoline, consumer prices rose 2.2%, while fuel oil surged 57.8%, hitting Atlantic Canada hard where many homes are heated with oil. Grocery inflation slowed to 1.7%, its smallest annual rise since May 2024, as fresh vegetables fell 2.9% and sugar and confectionery dropped 2.7%, while beef rose 8.7% after 11% in August. Shelter prices rose 1.8%, up from 1.5% in August, driven by a 4.9% rise in mortgage insurance and a 1.2% increase in home maintenance and repair costs. The report is the Bank of Canada's last look at price data before its Oct. 28 rate decision; economists had expected 3.2%, and CIBC's Andrew Grantham said the figures suggest there is little rush to raise rates.
- Statistics Canada set to release September inflation figures
Statistics Canada is set to release September inflation data today, with a Reuters poll of economists expecting inflation to accelerate to 3.2% from 3% in August. Economists say persistently high energy prices are the main driver and will be watching for cost pressures spreading beyond gasoline. The report is the Bank of Canada's last look at price data before its October 28 rate decision; the central bank has said it will look through initial effects from the Middle East war but is ready to hike if inflation spreads.
- Statistics Canada set to release September inflation figures – Winnipeg Free Press
Statistics Canada is set to release September inflation data. A Reuters poll of economists expects inflation to rise to 3.2% in September, up from 3% in August. Economists say persistently high energy prices are the main driver and will watch for cost pressures spreading beyond gasoline. The report is the Bank of Canada's last look at price data before its October 28 rate decision; the central bank says it will look through initial effects from the Middle East war but is ready to hike if inflation spreads, and it will also release quarterly surveys on whether firms plan to pass supply chain costs to customers.
- Bank of Canada Inflation Forecast : Higher Outlook Ahead
Bank of Canada Governor Tiff Macklem said the central bank will raise its quarterly inflation forecast considerably this month. He attributed the revision to persistently high prices for crude oil and petroleum products, which are intensifying inflationary pressures. The new inflation and growth forecasts will be factored into the bank's interest-rate decision on October 28.
- Bank of Canada Macklem warns global resilience under strain
Bank of Canada Governor Tiff Macklem said persistently high global energy prices will push up Canada's inflation outlook, adding that global resilience is under strain as shocks persist. Speaking on the sidelines of the IMF meetings in Bangkok, he noted that strategic oil reserve releases are being depleted, and that Houthi attacks on Saudi Arabia, damage to Gulf refining capacity and the closure of the Strait of Hormuz leave no relief in sight for oil prices. Canadian inflation has held at 3% for two months, and Macklem expects the outlook to be quite a bit higher than the July forecast of about 2.5% for the second half of the year. The bank will release new forecasts with its October 28 rate decision and is prepared to raise rates if price pressures spread. Macklem nonetheless expressed confidence in Canada, citing a relatively stable Canadian dollar and early signs of recovery and investment.
- Bank of Canada Macklem warns global resilience under strain
Bank of Canada Governor Tiff Macklem warned that persistently high global energy prices will push up Canada's inflation outlook, saying global resilience is “under strain” after a series of shocks, including wars in Iran and Ukraine and trade disruptions. He noted that strategic oil reserves are being depleted and that Middle East escalation, damage to Gulf refining capacity and the closure of the Strait of Hormuz mean no relief is in sight for oil prices. Canadian inflation has held at 3% for two months, and Macklem expects the outlook to be “quite a bit higher” than the July forecast, which had seen it cooling to about 2.5% in the second half of the year. The bank will release new forecasts with its Oct. 28 rate decision and could raise rates if price pressures spread, while Macklem expressed confidence in Canada, citing a stable dollar and early signs of investment recovery.
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