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UPDATE 1-Canada inflation rate steady in Oct, energy prices weigh

Published 2015-11-20, 08:38 a/m
UPDATE 1-Canada inflation rate steady in Oct, energy prices weigh

OTTAWA, Nov 20 (Reuters) - Canada's annual inflation rate
held at 1.0 percent in October, remaining at the lower end of
the central bank's target range as it was held down by cheaper
energy prices, data from Statistics Canada showed on Friday.
The figures were in line with economists' expectations that
inflation would match September's reading.
Prices were higher in seven of the eight major components of
the consumer price index, led by a 4.1 percent increase in food
prices. Food purchased at stores was more expensive than a year
ago, including fresh fruit and dairy products.
The cost of shelter was also higher. Transportation was the
only component to fall, driven by the drop in gasoline prices
and making for its twelfth consecutive year-over-year decline.
Core inflation, which strips out volatile items and is
watched by the Bank of Canada, was more robust, staying at a 2.1
percent annual rate.
The central bank has said there are a number of factors that
are having a temporary impact on inflation, including the drop
in energy prices and the depreciation of the Canadian dollar.
The bank is widely expected to leave interest rates on hold when
it meets next month.

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