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Part of situation: Rising energy costs drive inflation in U.S. and Canada (2 clusters)

Canada inflation rises to 3.1% in September driven by energy costs

Canada inflation Statistics Canada gasoline prices Bank of Canada consumer price index

Canada's annual inflation rate rose to 3.1% in September, up from 3.0% in August, according to Statistics Canada. The increase was primarily driven by a 27.8% year-over-year surge in gasoline prices, fueled by ongoing instability in the Middle East.

While headline inflation accelerated, core inflation measures showed signs of moderation. Excluding gasoline, consumer prices increased by 2.2% year-over-year. Other notable shifts included a 57.8% jump in fuel oil and other fuels, which pushed inflation above 5% in the Atlantic provinces.

Grocery prices saw a deceleration, rising 1.7% annually, the lowest rate since May 2024. This was supported by price drops in fresh vegetables and confectionery. Shelter costs also rose, with rents increasing by 2.8% and mortgage interest costs falling by 0.2%.

The Bank of Canada is scheduled to make its next interest rate decision on October 28, 2024. Economists noted that while high energy costs are pushing inflation above target, the stability of core measures suggests price pressures have not yet spread broadly across the economy.

Entities

Bank of Canada · Bureau of Labor Statistics · Canada · Douglas Porter · Energy Information Administration · Middle East · Pierre Poilievre · Quantitative Research Group · Statistics Canada · Tiff Macklem

Claims

What the coverage asserts, and how many sources carry each claim.

  • [● 2 SOURCES] The gap between rural and urban inflation is the widest since 2022.
  • [○ 1 SOURCE] Durable goods prices stopped falling and began to rise.
  • [● 2 SOURCES] Motor vehicle fuels, including diesel and gasoline, rose 35% from a year earlier.
  • [● 2 SOURCES] Consumer prices in urban areas rose 3.6% over the past 12 months.
  • [DISPUTED] The consumer price index climbed 3.7% in September from a year earlier.
  • [● 2 SOURCES] Consumer prices in rural America rose 4% over the past 12 months.
  • [● 2 SOURCES] Household fuels rose 44% over the past year.
  • [● 2 SOURCES] The September inflation report exceeded the median estimate of economists surveyed by Bloomberg.
  • [○ 1 SOURCE] U.S. export prices rose 11.6% from a year earlier in September.
  • [● 2 SOURCES] U.S. import prices rose 8.1% from a year earlier in September.
  • [DISPUTED] U.S. inflation was 3.7% in September compared to September 2025.
  • [○ 1 SOURCE] U.S. home heating oil and natural gas prices rose nearly 75% from September 2025.

Sources

UK inflation hits 3.5% – here's what it means for retailers [www.betterretailing.com]
Türkiye targets $70 billion in tourism revenue in 2027 [dohaweekly.com]
تضخم كندا يرتفع إلى ٣,١٪ في سبتمبر ٢٠٢٤ بسبب ارتفاع الوقود [ar.elbadil.com]
CPI rises in September [www.knysnaplettherald.com]
Türkiye aims to rank sixth in global tourism revenue [saudiindependent.com]
Canada could lose out on the global oil boom - West-Central Cross Roads [westcentralcrossroads.ca]
Canada could lose out on the global oil boom [calgarysbusiness.ca]
Inflation rises to 3.1 per cent in September [cknxnewstoday.ca]
土耳其目标2027年旅游收入达到700亿美元，瞄准全球第六 – 每日经济 [cn.dailyeconomic.com]
Canada : légère accélération de l'inflation en septembre [www.la-liberte.ca]
Retail body calls for cost-cutting Budget amid inflation increase [retailwit.com]
Inflation hits 3.1% in September as gas prices jump 27.8% [canadanewsmedia.ca]
Inflation data shows high energy prices still contained, for now: economists [www.canadianmanufacturing.com]
Inflación de Canadá sube a 3,1%, mientras indicadores básicos se moderan [dinero.hn]
Inflation data shows high energy prices still contained, for now: economists [lethbridgeherald.com]
Knopka.ca: Инфляция в Канаде выросла до 3,1% из-за роста цен на бензин [news.knopka.ca]
Годишната инфлация в Канада се ускори до 3,1 на сто [novini247.com]
Canada’s inflation ticks up to 3.1% due to high oil prices [realeconomy.rsmus.com]
On the rise | The Twenty-Four [www.atb.com]
Inflation rises to 3.1 per cent in September [windsornewstoday.ca]
Here's a list of September inflation rates for selected Canadian cities [www.brandonsun.com]
Canada's annual inflation rate rose to 3.1% in September | International [www.devdiscourse.com]
Higher gas prices drove inflation up to 3.1% in September: StatCan [www.durhamradionews.com]
Foreign Investors Sell Indian Stocks; Waterfield Sees Overseas Pull [econotimes.com]
Higher gas prices drove inflation up to 3.1% in September: StatCan [www.moneysense.ca]
L’inflation accélère au Royaume-Uni en septembre [www.agefi.fr]
Is Canada in an ‘affordability crisis’? Conservative motion heads to a vote - National [globalnews.ca]
APEC finance ministers warn persistent global imbalances risk growth, stability [www.news18.com]
UK inflation rises to its highest rate in almost a year after fuel surge [www.independent.co.uk]