Canada's Inflation in October Eases to 2.2% on Lower Gasoline, Food Prices
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Canada's annual inflation rate in October eased to 2.2% as gasoline prices dropped, food prices eased and mortgage interest costs came down below the 3% mark, data showed on Monday.
The removal of a carbon levy on gasoline this year continued to depress yearly price increases for the past few months. Barring the carbon levy removal, annual consumer price index rose by 2.7% in October from 2.9% in September, Statistics Canada said.
Analysts polled by Reuters had forecast the inflation to be at 2.1%..
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