OTTAWA – Statistics Canada is set to publish inflation figures for October this morning.
A Reuters poll of economists ahead of the release predicts annual inflation fell to 2.1 per cent in October, according to LSEG Data & Analytics, down from 2.4 per cent in September.
Economists say the decline is expected in part because gasoline prices were down in October, though food price inflation is expected to remain around the same elevated level.
The end of most of Canada’s retaliatory tariffs in September is also poised to help put further downward pressure on inflation for October and the months ahead.
But economists say steady consumer spending, despite rising unemployment, is keeping inflation from falling further.
The October CPI report will be the last before the Bank of Canada makes its final rate decision of the year on Dec. 10.
This report by The Canadian Press was first published Nov. 17, 2025.
