Canada's consumer inflation eases to 6.9% in September

By Ovunc Kutlu

ANKARA (AA) - Canada's annual consumer inflation eased to 6.9% in September, according to data released by the country’s statistical authority on Wednesday, recording the third monthly consecutive slowdown in the year-on-year consumer price growth.

While the market expectation for consumer inflation was to show an annual gain of 6.8%, the figure slowed from a 7% year-on-year gain in August and it is a significant decline from the 39-year high of 8.1% in June.

"Lower gasoline prices were mostly responsible for the deceleration," Statistics Canada said in a statement, adding gasoline prices dropped 7.4% in September following a 9.6% decrease in August on a monthly basis.

The consumer price index, on a monthly basis, rose 0.1% in September.

While the consumer price index was expected to show a monthly decline of 0.1%, it decreased 0.3% in August.