Canada Inflation Surges to 2.4% in September Amid Tariff Pressures

The average forecast among analysts was 2.2 percent, according to Bloomberg.

The underlying price pressure is also increasing in Canada. Excluding fuel – whose prices rose due to a one-time effect – inflation increased to 2.6 percent, up from 2.4 percent in August.

Canada's central bank lowered the interest rate 0.25 percentage points to 2.50 percent in September, the first cut in six months. Most assessors expect another cut next week.