Canada consumer price index october 2020
The consumer price index rose 2.4% year-on-year in January, slightly ahead of market expectations for 2.3%. Adjusting for seasonality, consumer prices rose 0.1% month-on-month, slowing from December's 0.4% pace. Energy prices (and gasoline in particular) were again the main driver of year-on-year inflation. The prices you report are essential to the production of the Consumer Price Index (CPI), an important indicator of how the Canadian economy is performing. This index, used by governments, businesses and private citizens, affects interest rates, taxes, wages, pensions and many other monetary transfers.