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StatCan says annual inflation rate rose in September

Last Updated Oct 21, 2020 at 9:17 am MST

Statistics Canada sign is pictured in Ottawa on Wednesday, July 3, 2019. An updated picture of poverty across the country prior to the COVID-19 pandemic is showing that those living well below the low-income threshold have fallen further behind. THE CANADIAN PRESS/Sean Kilpatrick

OTTAWA – Statistics Canada said its consumer price index in September was up 0.5 per cent compared with a year ago.

The reading compared with a year-over-year increase of 0.1 per cent in August.

Economists on average had expected a year-over-year increase of 0.4 per cent, according to financial data firm Refinitiv.

The statistics agency said that prices were up in six of the eight components of the inflation tracker, including increases in tuition fees as students headed back to school.

The agency also said the back-to-school shopping season wasn’t as big as it was one year ago, noted by a year-over-year drop of 4.1 per cent in clothing and footwear prices.

Statistics Canada said the consumer price index would have increased by 1.0 per cent in September had a 10.7 per cent year-over-year drop in the price of gasoline not been factored in.