{
  "id": 15626288,
  "title": "Canada's Inflation Rises to 3.1% as Fuel Oil Prices Jump 58%",
  "url": "https://urgent.news/2026/10/19/canadas-inflation-rises-to-3-1-as-fuel-oil-prices-jump-58",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-19T16:30:00.000Z",
  "source": {
    "name": "OilPrice",
    "slug": "oilprice",
    "url": "https://oilprice.com/Latest-Energy-News/World-News/Canadas-Inflation-Rises-to-31-as-Fuel-Oil-Prices-Jump-58.html"
  },
  "original_language": "en",
  "account": "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 surging fuel oil prices, which jumped 58% year-over-year. Gasoline prices also climbed 27.8% from a year earlier, though the switch to a cheaper winter blend helped temper the growth. Fuel oil and other fuels experienced an even steeper rise of 57.8%, with Atlantic Canada bearing the highest burden, as many homes in the region rely on oil for heating. The energy index climbed 19% from the previous month, while transportation costs rose 8.4%.\n\nGrocery prices, however, rose more modestly at 1.7%, marking the smallest annual increase since May 2024. This is largely due to a decline in the prices of fresh vegetables by 2.9% and sugar and confectionery by 2.7%. Beef prices, on the other hand, increased by 8.7%, down from 11% in August. Since September 2020, grocery prices have risen by 33%.\n\nShelter costs climbed 1.8%, up from 1.5%, driven by a 4.9% increase in home and mortgage insurance and a 1.2% rise in home maintenance and repair. Rent in the region rose 2.8%, staying flat from August, while mortgage interest costs fell by 0.2%. Excluding energy costs, Nova Scotia experienced the fastest price growth in Atlantic Canada at 3.3%.\n\nThe headline inflation figure fell short of the 3.2% forecast. On a seasonally adjusted basis, prices rose by 0.4% from August. The Bank of Canada is scheduled to decide on interest rates on October 28, with its policy rate currently at 2.25%. Prior to the release of the data, market expectations were for a nearly quarter-point hike by the year's end. In July, the central bank projected inflation would ease to around 2.5% in the second half of 2026. Governor Tiff Macklem cautioned that sustained high global energy prices could push up Canada's inflation expectations.",
  "summary": "Gasoline and fuel oil pushed Canada's annual inflation rate to 3.1% in September, up from 3.0% in August, as the war in the Middle East kept fuel prices high, Statistics Canada said on Monday. Gasoline prices rose 27.8% from a year earlier, up from 22.8% in August, despite the switch to the cheaper winter blend. Fuel oil and other fuels rose 57.8%, up from 43.7%, with the heaviest burden in…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}