Inflation in Canada continues to slow to 3.1% in October

OTTAWA — Canada’s annual inflation rate slowed last month, largely as lower prices at the pump helped offset continued high food prices and the rising cost of rent and property taxes.

The country’s consumer price index rose 3.1% in October from a year earlier, the lowest rate since June, Statistics Canada announced Tuesday. This pace was in line with market expectations for the month, according to economists at TD Securities, and follows inflation of 3.8% in September.