Headline inflation of 2.4% beat estimates for September, gaining 0.1% over the August print…

… thanks to an easy Y/Y comp in gas prices, which should be short lived if oil prices stay level.

That dynamic helped reverse deflation in transportation, while the same inflationary trends continued - with food inflation accelerating M/M to nearly 4%…

… driven by prices at the counter jumping 4% Y/Y, the largest increase since 2023.

Rent costs accelerated too, gaining 5% Y/Y thanks to pricing strength in most of the key provinces - supporting continued supply additions.

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