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Inflation Nicks up in October

Inflation moved up somewhat last month, according to figures released Friday by Statistics Canada.

The agency's Consumer Price Index (CPI) rose 1.5% on a year-over-year basis in October, following a 1.3% gain in September.

StatsCan added that, excluding gasoline, the CPI was up 1.4% year over year in October, after posting a 1.5% increase in September.

Prices were up in six of the eight major components in the 12 months to October, with the transportation and shelter indexes contributing the most to the year-over-year rise in the CPI. This increase in the CPI was moderated by a decline in the food index.

Consumer prices rose more in four provinces on a year-over-year basis in October than in September. At the same time, four provinces reported a deceleration in consumer price growth. In Quebec and Alberta, the CPI's year-over-year gain in October matched that of September.

On a seasonally-adjusted monthly basis, the agency says, the CPI increased 0.2% in October, matching the gain in September.