Inflation rate slows to 3.1% in October



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So Scott let’s begin with you we are getting a better picture here of where inflation stands in this country get us up to speed yeah it’s slowing down this is exactly what the Bank of Canada wants and it’s probably exactly what a lot of Canadians home want too 3.1% is our new

Inflation rate and that’s down from a whopping 3.8% month over month so that’s a big precipitous decline just for the month of October let’s look at some of the items on this because within what statistics can tracks gasoline prices really are down dramatically uh During the period down 7.8% and this

Is not just what we pay at the pumps but this in is could be fuel costs things that we uh farmers use to uh to produce uh uh groceries uh speaking of groceries they are up 5.4% year-over-year now again that’s down from the 5.8% so uh grocery prices are moderating as well

And we strip out gasoline prices which is a volatile commodity within this metric here we’re looking at the core inflation is at 3.6% that too is coming down so this is within the guidelines almost within the comfort zone of the Bank of Canada they

Like a zone of about two 3% at the most so a a big side relief probably for a lot of people out there as far as good news for for they’re paying less than their credit cards less potentially for mortgage costs going forward and good potentially for anybody shopping for a

Mortgage at the same time okay so you know that next interest rate decision is coming very soon could we see the Bank of Canada hold things steady or or possibly could the signal that they are going to decrease rates this definitely takes pressure off the Bank of Canada

Raise rates the December 6th is the next meeting we’re not expecting uh anything to happen then the pro chances are wide chances are they’re going to keep it at 5% where it’s been for a couple of times but we’re just the reactions this morning now is saying that uh we are

Seeing some Bank analysts saying that the Bank of Canada could start cutting rates as early as the second quarter of next year so uh more economists are thinking we’re not going to see any more rate hikes it’s just a matter of time before we start seeing that come down as

Well there’s a lot of pressure on the US Federal Reserve as well which is a much bigger more powerful Central Bank than the Bank of Canada to lower their interest rates into next year as well so some good news pretty much across the board for anybody with a with a heavy

Debt load okay so we got to keep one eye South of the Border one eye here Scott appreciate that part of the story

Canada’s annual inflation rate was 3.1 per cent in October, down from 3.8 per cent the previous month. Statistics Canada says the biggest reason for the deceleration in the cost of living was a drop in the cost of gasoline.

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  1. You show the core inflation numbers , they exclude fuel and food .
    Then you state that the low reading is because of fuel also picturing gas pumps for the thumbnail.
    Misleading information at its finest.
    Read between the lines people . Don’t be sheeple .

  2. Something the government is doing right, lower the inflation. Can we praise the government for this? This has been the most important economic problem to tacle, and it is getting better. Just as with the crisis with China, it was great diplomacy to bring back the 2 Michaels.

  3. Everyone needs to realize the inflation rate DOES NOT reflect reality. Out of control inflation is something out govt has been dealing with for many years now, in order to quell the negative optics of it, they MANIPULATED the CPI in such a manner to reduce the perceived metric of inflation. They take the really high "inflators" OUT of the equation (housing, gas, etc) and then tell you what inflation is. This everyone, is called GASLIGHTING, something out government excels at. Inflation is more around the 6-8% mark right now and you all know this logically when you visit the grocery store, you don't need to be told that.

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