The Consumer Price Index (CPI) rose 3.1% year over year in Canada last month, but was down from the 3.8% increase seen in September, according to Statistics Canada.
During the same period, the CPI increased by 4.2% in Quebec.
The federal agency mainly attributes the slowdown in growth to the 7.8% year-on-year decline in gasoline prices in October. Compared to the previous month, gasoline prices decreased by 6.4% across the country last month.
Price growth at grocery stores continued to slow year over year. In fact, prices increased by 5.4% in October after increasing by 5.8% in September.
However, the increase in rent prices was more marked from one year to the next in October, at 8.2%, compared to 7.3% in September. The largest increases were observed in Nova Scotia (+14.6%), Alberta (+9.9%), British Columbia (+9.1%) and Quebec (+9.1%) .
Prices for services rose at a faster pace in October, 4.6%, largely due to higher prices for tour packages, rent, as well as property taxes and other special fees, after Statistics Canada.
The Consumer Price Index increased last month by 3.2% year over year in Nova Scotia, 2.8% in New Brunswick and 1.7% on the Island -of Prince Edward.