Canada's CPI creeps up in September

OTTAWA, Oct. 24 (UPI) -- Canada's annual inflation rate rose 3.4 percent in September, driven largely by higher prices for energy and food, Statistics Canada reported Friday.

On a monthly basis, the Consumer Price Index was up 0.2 percent from August, the report said.

On the annual basis, if all energy components were excluded, inflation was up 1.9 percent, the report said.

The top contributor to inflation was shelter costs, seconded by food with transportation costs in third place.

During September, gasoline prices rose 26.5 percent, while there was a 9.3 percent decline in prices to purchase and lease passenger vehicles.

Prices for bakery and cereal products rose 15.5 percent, the strongest upward pressure in the food sector, StatsCan said. Food prices overall in the 12 months to September rose 5.6 percent, the report said.

Clothing and footwear remained the only downward contributor on the 12-month change in the CPI in September, with an overall decline of 1.3 percent.