According to Monday's data, Canada's inflation rate rose to 3.1% per annum in September, and rising gasoline and diesel prices caused the consumer price index to once again break through the Bank of Canada's upper limit after a lapse of three months. Analysts had previously predicted an inflation rate of 3.2% in September, up from 3% in August. The September CPI data is the last batch of inflation data before the Bank of Canada's monetary policy decision at the end of this month. The rise in the CPI index was mainly driven by a 19% year-on-year surge in energy prices, which previously rose 15.4% in August. This led to a 27.8% year-on-year increase in gasoline prices. The financial market expects the Bank of Canada to keep interest rates unchanged at 2.25% on October 28, but the market already expects it to raise interest rates by 25 basis points in December.

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