12-month inflation moderated slightly in Canada in September for the third consecutive month, thanks to a decline of gasoline pricesalthough food prices continued to rise.
12-month inflation ticked 6.9% last month after 7% in August, according to Stastique Canada, a smaller drop than analysts expected.
In June, Canadian inflation had reached a record 8.1% in 12 months.
In the month-to-month comparison, the consumer price index registered an increase of 0.1% in September, and 0.4% in the seasonally adjusted measurement.
Although gasoline prices fell due to an increase in world supply, food prices continued to rise, with a rise of 11.4% in the 12 months to September, explained the national statistics agency.
To fight inflation, the central bank of canada raised its guideline rate in early September to 3.25%, a 14-year high.
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