October 20, 2022
1 min read

Canada’s CPI declines to 6.9% in Sept

Prices for food purchased from stores grew 11.4 per cent, the fastest pace year over year since August 1981…reports Asian Lite News

Canada’s Consumer Price Index (CPI) declined slightly to 6.9 per cent in September, decelerating from 7 per cent in August, Statistics Canada has said.

Lower gasoline prices were mostly responsible for the deceleration, the national statistical agency said on Wednesday, adding that while prices at the gas pump dropped Canadians continued to feel the pinch from higher food prices, Xinhua news agency reported.

According to the statistical agency, in September, prices for food purchased from stores grew 11.4 per cent, the fastest pace year over year since August 1981. Prices for food purchased from stores have been increasing at a faster rate than the all-items CPI for 10 consecutive months, since December 2021.

Excluding food and energy, prices rose 5.4 per cent year over year in September, following a gain of 5.3 per cent in August. Prices for durable goods, such as furniture and passenger vehicles, grew at a faster pace in September compared with August, the statistical agency said.

On a monthly basis, the CPI rose 0.1 per cent in September.

Average hourly wages rose 5.2 per cent on a year-over-year basis in September, meaning that, on average, prices rose faster than wages. The gap in September was larger compared with August, Statistics Canada said.

ALSO READ: US must prepare for China’s invasion of Taiwan this year: CNO

Previous Story

Cuba renews call to lift US trade embargo

Next Story

Malaysia goes to polls on Nov 19

Latest from -Top News

Europe Seeks Peace in Gaza

European countries condemn Israeli interception of Gaza-bound flotilla, demand safety of citizens…reports Asian Lite News Israel’s interception of an international flotilla carrying humanitarian aid to Gaza has sparked condemnation across Europe, with

GAZA: Egypt to Host Peace Talks

Egypt hopes the discussions will help “end the war and the suffering of the brotherly Palestinian people, which has continued for two consecutive years…reports Asian Lite News Egypt will host Israeli and

‘My Injuries Made Me’

During his four-year battle with injury, the incumbent fast bowling spearhead made occasional appearances but couldn’t bear the workload and demands of red-ball cricket….reports Asian Lite News England tearaway Jofra Archer believes

Hegseth Cuts Deep

US Defense Secretary Hegseth abruptly fired Navy Chief Jon Harrison in a major Pentagon shake-up….reports Asian Lite News US Defense Secretary Pete Hegseth abruptly dismissed Jon Harrison, the Navy Chief of Staff,

Japan Set for First Female PM

Takaichi, 64, defeated Agriculture Minister Shinjiro Koizumi in a closely contested runoff vote, succeeding Prime Minister Shigeru Ishiba as party leader….reports Asian Lite News Former Internal Affairs Minister Sanae Takaichi has won
Go toTop

Don't Miss

‘Immigrants successful at finding jobs in Canada’

Between 2016 and 2021, immigrants accounted for about 80 per

Oldest star clusters in universe revealed

The Astrophysical Journal Letters released an early study of Webb’s