Canada’s annual inflation rate slowed to 2.2 per cent in October, and new provincial data from Statistics Canada shows a generally cooling trend across much of the country — with only a few regions seeing slight upward movement.
Newfoundland and Labrador held steady at 2.0 per cent, unchanged from September. Prince Edward Island continued its slowdown, easing to 1.4 per cent from 1.7 per cent. Nova Scotia and New Brunswick also saw modest dips, landing at 2.6 per cent and 2.1 per cent respectively.
Quebec remains one of the higher-inflation provinces at 3.2 per cent, though that too marks a slight improvement from 3.3 per cent last month. Ontario saw its rate fall to 1.8 per cent from 2.0 per cent, while Manitoba ticked up slightly to 3.0 per cent from 2.9 per cent.
Saskatchewan cooled to 2.3 per cent from 2.6, and Alberta held near the national average at 1.8 per cent, down marginally from 1.9 per cent. British Columbia registered a small uptick, rising to 2.0 per cent from 1.9 per cent.
The latest snapshot reflects a period in which both fuel and grocery prices eased, contributing to the national decline. While conditions vary between provinces, the overall picture suggests inflation pressures continue to moderate heading into the final stretch of the year.