Statistics Canada says the consumer price index was up 1.5 per cent in October compared with a year ago.
The latest statistic compared with an increase of 1.3 per cent in September.
According to Thomson Reuters, the October result matched the expectations of economists. Prices were up in six of the eight major components, with the transportation and shelter sectors contributing the most to the year-over-year increase, offset in part by lower food prices.
The Bank of Canada’s core index, which excludes some of the most volatile items, increased 1.7 per cent compared with a year ago. Economists had expected the core rate to be 1.8 per cent.