Statistics Canada released a report on the 15th local time saying that in September 2024, the Canadian consumer price index increased 1.6% year on year, down from the 2% increase in August. This is the smallest increase since February 2021. According to the report, the fall in gasoline prices was the main reason for the decline in the overall inflation rate in September. The Bank of Canada has cut the benchmark interest rate 3 times this year, cutting interest rates by 25 basis points each time to 4.25%. Analysts believe that the September data increased the possibility that the Bank of Canada would speed up interest rate cuts.

Statistics Canada released a report on the 15th local time saying that in September 2024, the Canadian consumer price index increased 1.6% year on year, down from the 2% increase in August. This is the smallest increase since February 2021. According to the report, the fall in gasoline prices was the main reason for the decline in the overall inflation rate in September. The Bank of Canada has cut the benchmark interest rate 3 times this year, cutting interest rates by 25 basis points each time to 4.25%. Analysts believe that the September data increased the possibility that the Bank of Canada would speed up interest rate cuts.