However, CIBC economist Nick Exarhos noted that the recent strength in oil prices will reverse the slide in energy prices. Excluding gasoline, the index was up 1.3 per cent compared with a year ago — more than the 1.1-per-cent increase in September. The cost of gasoline was up 6.5 per cent year-over-year in October, compared with a 14.1-per-cent year-over-year increase in September. OTTAWA—The annual pace of inflation cooled in October as the cost of gasoline came back down after spiking higher in September when hurricane Harvey forced the shutdown of oil refineries in Texas. Transportation prices were up 3 per cent compared with a year ago following a 3.8-per-cent increase in September, while shelter costs were up 1.2 per cent.

Source: thestar November 17, 2017 16:50 UTC