OTTAWA — Some economists say surprisingly strong September inflation figures will give the Bank of Canada pause ahead of its interest rate decision next week.
Annual inflation accelerated to 2.4 per cent last month, Statistics Canada said Tuesday. That’s a jump of half a percentage point from 1.9 per cent in August and a tick higher than economists’ expectations.
Annual changes in the price of gasoline, a monthly gain in travel tour prices and stubbornness at the grocery store were largely blamed for the inflationary surge.
The September inflation report will be the Bank of Canada’s last look at price data before the central bank’s next interest rate decision on Oct. 29.
The central bank lowered its benchmark interest rate by a quarter point to 2.5 per cent at its last decision in Sept