Statistics Canada is set to release September inflation numbers Wednesday morning, and most analysts are expecting the annual rate of inflation fell to 6.8 per cent, thanks to slumping gasoline prices.
According to a survey of economists by Bloomberg, the Consumer Price Index — a broad basket of goods and services — was likely 6.8 per cent higher in September than it was a year ago. That consensus CPI estimate is lower than the 7.0 per cent annual inflation rate seen in August, and 7.6 per cent in July. In June, inflation had jumped to a 39-year high of 8.1 per cent.
Lower gasoline prices and house prices are the two biggest reasons the annual rate of inflation likely dropped in September, CIBC senior economist Andrew Grantham said in a research report. In August, food prices kept on soaring, with Canadians paying 10.9 per cent more than they did a year earlier at grocery stores. That’s the highest annual food inflation rate since August 1981.
'According to a survey of economists by Bloomberg, the Consumer Price Index — a broad basket of goods and services.. ' It's a dynamic basket as well. Changes all the time. That's the way we fight inflation.. we pretend it's lower than it actually is.
Lower gas prices 😮😂🤣🤣😂😂🐂💩
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