Economy · Ottawa, Canada · October 19, 2026

Canada's inflation rises to 3.1% as fuel oil prices jump 58%

Reported by 1 outlet · under-reported · first reported Oct 19, 12:30 PM ET

Canada's annual inflation rose to 3.1% in September, driven by gasoline up 27.8% and fuel oil up 57.8% as the Middle East war kept energy prices high.

Why it matters

Rising inflation complicates the Bank of Canada's rate decisions.

Background

Energy prices have surged globally since the Iran war began. Canada's inflation had been near the central bank's target.

Sources

• OilPrice ↗Oct 19, 12:30 PM ET

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