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Canada's annual inflation held steady in September

Canada's annual inflation rate was unchanged in September compared to the previous month amid a decline in gas prices, according to latest data from Statistics Canada.

Consumer prices rose 1.9% year over year last month, matching the rate in August and the consensus estimate of economists polled by Econoday.

Energy prices went down 4.6% as gasoline prices declined 10.0%, partially due to weaker global demand for oil and a switch by refineries to cheaper winter-blend gasoline.

Prices for food and shelter increased by 3.7% and 2.3%, respectively, in September. Excluding food and energy, the consumer price index was up 2.1%.

Prices for goods went up 1.3%, a faster pace compared to the previous month, while the increase in services prices slowed to 2.2%.

On a seasonally adjusted monthly basis, consumer prices were down 0.1% in September, the same rate of decline in the previous month.