Canadian Press
Canada’s inflation rate fell to 1% in September, down from 1.3% in August.
Statistics Canada says the decline was due to a larger year-over-year drop in gasoline prices. Those were down 18.8% compared to last year.
Read: Unemployment inches up to 7.1% in September
Overall, prices were up in seven of eight major categories in the consumer price index—the only decline was a 3.5% drop in the transportation group, which includes gasoline.
Food prices were up 3.5% compared with the same month last year.
Read: Why Canada’s economy is underperforming
The Bank of Canada’s core index, which excludes some of the most volatile components, was up 2.1% from a year ago.