The fact that inflation fell to 1.6 percent in September came as good news amid the affordability crisis, but there are several price levels that remain elevated.
On Oct. 15, a Statistics Canada report showed that the latest inflation numbers were the consumer price index’s smallest year-over-year increase since February 2021. The Bank of Canada’s inflation target is 2 percent, meaning September’s numbers are good news for those awaiting further interest rate cuts.
