Economics
Inflation Hits 4.4% in Canada, Deepening Central Bank Challenge
- Price gains exceed Bank of Canada cap for sixth straight month
- Report is final major indicator before Oct. 27 policy decision
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Inflation exceeded the Bank of Canada’s control range for a sixth straight month, worsened by supply chain bottlenecks that are proving stubbornly persistent.
The consumer price index rose 4.4% in September from a year earlier, Statistics Canada reported Wednesday in Ottawa. That’s the highest reading since February 2003, exceeding consensus expectations of 4.3% in a Bloomberg survey of economists.