Consumer Price Index increases 2.2 per cent in October
The Consumer Price Index increased 2.2 per cent last month on an annual basis, with the rise in October down slightly from September, according to the latest data from Statistics Canada.
The Consumer Price Index increased 2.2 per cent last month on an annual basis, with the rise in October down slightly from September, according to the latest data from Statistics Canada.
“The all-items CPI decelerated largely due to gasoline prices, which fell at a faster pace year over year in October (-9.4 per cent) compared with September (-4.1 per cent). Excluding gasoline, the CPI rose 2.6 per cent in October, matching the increase in September,” writes Statistics Canada.
“Slower growth in grocery prices further contributed to the deceleration in the CPI in October, which was moderated by higher prices for cellular phone plans.”
On a monthly basis, the CPI rose 0.2 per cent in October and 0.1 per cent when seasonally adjusted.
Grocery store prices saw a 3.4 per cent jump on an annual basis last month, which exceeded overall inflation for nine consecutive months.
Canadians also experienced a hike in yearly costs for their cellular services in October, which has increased 7.7 per cent since 2023.
The index for cellular services rose 8.2 per cent in October on a monthly basis, due to price increases from several wireless service providers.
Homeowners’ home and mortgage insurance saw a 6.8 per cent jump, while passenger vehicle insurance premiums were up 7.3 per cent.
Provincially, Alberta saw the largest increase in insurance premiums for homes and mortgages, as well as vehicle insurance.
“Since October 2020, prices for homeowners’ home and mortgage insurance rose 38.9 per cent nationally, while prices for passenger vehicle insurance premiums rose 18.9 per cent,” it said.
Additionally, the index for property taxes and other special charges rose 5.6 per cent on an annual basis, down from a 6 per cent increase last year.
“While most of the provinces showed fairly similar increases, property taxes in Manitoba rose 19.5 per cent in 2025 due in part to higher sewer charges to fund upgrades to a sewage treatment facility and to an increase in garbage fees in Winnipeg,” said Statistics Canada.
Meanwhile, property taxes in Newfoundland and Labrador decelerated the most of any province.