B.C. inflation rate eases to 2.5 per cent in September

B.C. inflation rate eases to 2.5 per cent in September

The annual pace of inflation slowed more than expected in September as increases in the price of gasoline continued to ease.

The 2.2 per cent figure registered "well below" the consensus forecast of 2.7 per cent, according to TD senior economists James Marple.

The consumer price index in September rose 2.2 percent from that a year ago, in comparison with a year-on-year increase of 2.8 percent in August.

Gas price growth fell to 12 percent year-on-year from August's 20 percent, but the biggest move was air transportation, which went to 7.4 percent from 26.4 percent.

September marked the eighth consecutive month that the overall inflation rate has exceeded the Bank of Canada's 2.0 per cent target.

The central bank is widely expected to raise its key interest rate target, which sits at 1.5 percent, by a quarter of a percentage point.

"The biggest factor in last month's swoon was a 16.6-per-cent plunge in airfares, the largest monthly drop in 30 years, which nearly precisely reversed July's 16.3-per-cent spike-which had been the biggest monthly rise in, yes, 30 years", said BMO chief economist Douglas Porter.

Price increases slowed in September on a year-on-year basis after spiking to 2.8 percent in August and 3 percent in July, which beat a record held since 2011. Alcoholic beverages and tobacco products were up 4.4 percent.

The Bank of Canada aims to keep inflation within a target range of 1 to 3 percent and adjusts its interest rate target to help achieve that goal. Core measures of inflation - considered a better indicator of underlying pressures - also ticked lower and averaged 2 percent last month.

Separately, Statscan said the value of Canadian retail trade unexpectedly fell by 0.1 per cent in August, the second decline in three months, in part due to lower sales of gas and clothing.

"Together, these two items [gas and air transportation] took 0.5 percentage points from the headline reading", Marple said. In volume terms, sales decreased 0.3 per cent.

Sales at gasoline stations were down 2.0 per cent, while clothing and clothing accessories stores fell 1.2 per cent.

Related News:

  • China plans to send up an artificial moon for light at night

    China plans to send up an artificial moon for light at night

    However, they dropped the project after the mirror didn't unfold and it incinerated on its way into space, Time magazine reports . Chinese scientists are working to launch an illumination satellite that could emit artificial moonlight.
    Canada makes marijuana legal, and a national experiment begins

    Canada makes marijuana legal, and a national experiment begins

    As Canada welcomes legalisation, supply shortages could develop, as happened in some U.S. states when legalisation arrived. Nine US states have legalised recreational use of cannabis, and more than 30 have approved medical marijuana.
    Nokia 8.1 with Snapdragon 710 SoC & Android 9.0 Pie Spotted Online

    Nokia 8.1 with Snapdragon 710 SoC & Android 9.0 Pie Spotted Online

    But as it might be an improved smartphone over to the Nokia 7 .1 plus, we expect it to have better specifications. Other rumours suggest that the device will have other variants with 6GB RAM paired with 64GB or 128GB storage.
  • ‘Ugly, black b******’: Passenger launches racist rant at woman on Ryanair flight

    They reported to BBC News that "it will not tolerate unruly behavior like this" and has referred the incident to Essex Police. In a shocking series of events, the man can be heard calling Mrs Gayle an "ugly black bast**d", while crew members looked on.
    Mega Millions jackpot now $667M, third largest in United States  history

    Mega Millions jackpot now $667M, third largest in United States history

    The Illinois Lottery announced it's giving out 654 free tickets from 10 a.m.to 1 p.m. The prize must be claimed within one year at the lottery headquarters in Lansing.
    The largest living thing on Earth is dying

    The largest living thing on Earth is dying

    Last but not least, they also suggest that the public should be better informed of Pando's significance. You might assume that climate change is responsible for Pando's decline but that's not the full story.
  • 3 Takeaways From Opening Night Victory Over Dallas — Phoenix Suns

    3 Takeaways From Opening Night Victory Over Dallas — Phoenix Suns

    The Suns have won five straight against Dallas, sweeping the series last season for the first time since 1997-98. Much of the talk going into the Dallas-Phoenix season opener centered on rookies Deandre Ayton and Luka Doncic .
    Silva spoilt for choice as absentees return for Everton

    Silva spoilt for choice as absentees return for Everton

    I think our future will be good". "It's important we take care of them, to gel everything in the right way, we have many things to improve".
    Bigg Boss 12 Day 34: Things Get Heated Between Sreesanth & Surbhi

    Bigg Boss 12 Day 34: Things Get Heated Between Sreesanth & Surbhi

    Jasleen even says that she is scared to even go near her as she gives a weird stare no one know how she will react. The Appy Fizz caller asks Jasleen why she has formed a group with people who have the minimum onscreen presence.
  • Analyst Opinion Summary: A.H. Belo Corporation (AHC), Barrick Gold Corporation (ABX)

    The earnings growth rate for the next years is an important measure for investors planning to hold onto a stock for several years. ATR reflects the trading range, and knowing this can allow you to more accurately buy and sell into trends as well as set stops.
    Three centre backs Manchester United should consider signing in January

    Three centre backs Manchester United should consider signing in January

    The incident was also skillfully handled by Chelsea's boss Maurizio Sarri , who talked to Mourinho and made Ianni apologize. Manchester United manager Jose Mourinho was involved in ugly scenes at the end of his return to Stamford Bridge.
    Rams vs. 49ers Preview, Tips, and Odds

    Rams vs. 49ers Preview, Tips, and Odds

    The Rams are first in yards rushing at 154.3 yards per game, sixth in passing at 310 and third in scoring at 32.7 points a game. The 49ers have the advantage in record (69-65-3) against the Rams, splitting the divisional series last season.


Most liked

Taylor looking to lead Irish party in Boston
Serrano will try and entice Taylor into a war and given her experience she will be well-versed in the darker art of pro boxing. Serrano has fought 37 times, winning 27 (10 inside the distance), losing five and drawing three.

Boban Marjanovic Dunks Without Leaving His Feet And Broke The Rim
Nuggets: Denver was without Isaiah Thomas (right hip surgery), Jarred Vanderbilt (right foot surgery) and Michael Porter Jr. Denver found a way to keep the game in check though and took a 59-54 lead into the halftime locker room.

Red Sox favored slightly over Dodgers in World Series
But after the Yelich home run, Dodgers pitchers clamped down on the Brewers. "Yasiel is awesome. They would go Ryan Madson to Kenley Jansen to Clayton Kershaw to collect those outs.

Around 700,000 people demand new Brexit vote in London protest
She said: "We're both Spanish students due to study overseas next year, but no one knows what will happen with Erasmus funding". If those tests are not met the party has said it would vote down May's final deal, in the hope of forcing a general election.

Give your Surface Pro 6 the torn down look with this background
To save $90 to $230 on the Surface Pro 6 you need to be a student, parent of a student (of any age) or a military member. Complex construction makes all disassembly and reassembly tedious in comparison to other tablets.

New BMW X7 revealed
Customers can choose from Design Pure Excellence, M Sport and BMW Individual which allows interior customizations. The BMW X7 will be available in gasoline (340 to 462 horsepower) and diesel (265 to 400 horsepower) versions.

Kanye West’s Surprise for Kim Kardashian for Her Birthday
Speaking to Bret Easton Ellis for Richardson , she added: "I absolutely think you can [be both a mother and sexy]". The sizable floral display filled up one of the large rooms in the couple's Hidden Hills, California home.

55 killed in Nigeria ethic clashes
The February violence was over an alleged abduction and conversion of some Christian girls by Muslims in the community. He called on community leaders to encourage tolerance and stop such discord before it could develop into violence.

Jordan seeks to end Israel land lease
Prime Minister Benjamin Netanyahu said on Sunday his country will negotiate with Jordan an extension of the 25-year lease. Activists have been asking the government not to renew the agreement and to annul Israel's ownership of Jordanian lands.

Published current rating of the world’s most powerful smartphone
With a Snapdragon 835 processor , Adreno 630 GPU and 8GB of RAM, this phone is (on paper) an absolute powerhouse. If you're curious as to how other flagship Android smartphones fared, check out the image below.

Ayushmann Khurrana's film is unstoppable, outshines 'Stree'
Badhaai Ho box office collection Day 2 LIVE Updates: The much-anticipated movie Badhaai Ho is finally in theatres now. Badhaai Ho clashed at the box office with Arjun Kapoor and Parineeti Chopra's Namaste England .

September's U.S. homes sell at slowest pace in three years
He noted that sales declined by 5.4 percent over the month in the South, which was the largest monthly decline among the regions. Properties typically stayed on the market for 32 days in September, up from 29 days in August, but down from 34 days a year ago.

Barcelona's Sagrada Familia gets building permit 130 years too late
Earlier past year in Barcelona, was detained a group of terrorists who wanted to blow up the temple of the Sagrada Familia. Some 4.5 million of them take the time to see the inside of the space.

Fallout 76 Beta Start Time Revealed
Xbox One fans should rejoice, since the file size of the beta will be 45 GB in size, and these things take time. There now is no news on whether PS4 or PC fans will have the ability to pre-install it.

Julia Louis-Dreyfus reveals why she went public with her cancer diagnosis
She said: "It had a sense of humour and it had a kind of "kick cancer in the ass" kind of point of view". Louis-Dreyfus has since returned back to Veep and is now filming the last season.