Inflation Slows in Canada, Cracking Door Open to Rate Cuts
- Core measures tracked closely by Bank of Canada decreased
- ‘We may look back at this as an important turning point’: TD
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Consumer prices in Canada rose at the slowest pace since June, a reassuring sign for central bank policymakers that rates are now high enough to significantly cool inflation pressures.
The consumer price index increased 3.1% in October from a year ago, following a 3.8% increase in September, Statistics Canada reported Tuesday in Ottawa. That matched the median estimate in a Bloomberg survey of economists.