Canadian inflation accelerated in October to its quickest pace in nearly 19 years, leaving households to pay sharply more for gasoline, new vehicles and meat products.
The consumer price index (CPI) rose 4.7 per cent in October from a year earlier, up from 4.4 per cent in September, Statistics Canada said Wednesday. It was the seventh consecutive month that inflation has exceeded the Bank of Canada’s target range of 1 per cent to 3 per cent.
