Headline inflation of 2.2% shaped up largely as expected for October, gaining 0.2% over the September print…

… but moderating on a Y/Y basis, as the drag from gasoline prices increased.

At the category level, it wasn’t just transportation - with most baskets showing slower Y/Y growth versus September…

… including in store-bought food, which grew 3.4% - down from 4% last month but still above CPI for nine straight.

The most interesting chart from the print? Cellular services… up nearly 8% - the first increase in nearly three years.

That could be what the sector needs to get going, after years of intense price competition have weighed on shares (especially without recent strength from Rogers)… let’s see.

About Bullpen: Bullpen Finance Inc. publishes content on Canadian markets and provides paid research coverage of select Canadian issuers. Bullpen is paid in cash by covered issuers, does not accept stock or options, does not hold positions in covered securities, and does not conduct investment banking business. Bullpen and LodeRock Advisors Inc. are affiliated; LodeRock provides investor relations services to issuers, some of whom are covered by Bullpen Research. When a post discusses a covered issuer, a specific disclosure appears at the top of the post. This post is published for general information purposes. It is not personalized investment advice and is not tailored to any individual reader’s circumstances. Bullpen is not a registered investment adviser or dealer. For full disclosures, including analyst certification, jurisdictional statements, and conflict of interest policies, please see our Legal & Disclosures section on our website.

You might be interested in…