CANADA — Consumer prices were 3.1% higher in September than a year earlier, Statistics Canada reported October 19, up from August’s 3.0% annual increase.

Gasoline was the main source of the acceleration: its year-over-year increase reached 27.8%, compared with 22.8% in August. Excluding gasoline, inflation slowed to 2.2% from 2.4%.

Grocery inflation slows, not grocery prices

Food bought from stores cost 1.7% more than a year earlier, down from August’s 2.8% rate. That was the smallest annual increase since May 2024. The agency nevertheless measured grocery prices 33% above September 2020 levels.

Slower positive inflation means prices are rising less quickly, not returning to their previous level.

These are September price observations, not an interest-rate announcement.

Source: Statistics Canada’s full September 2026 Consumer Price Index release, October 19.

Lead image: Flag of Canada via Wikimedia Commons, public domain. Geographic illustration, not a photograph of shoppers, gasoline prices or the statistical release.