Inflation eases in October from the prior month

Latest reading: Harmonized consumer prices were up 4.0% on a year-on-year basis in October, following a 4.6% increase in the previous month. Relative to the prior month's figures, there were reduced price pressures for food and non-alcoholic beverages (+4.4% on a year-on-year basis vs +5.7% in September), transportation (-0.8% vs -0.5% in September), housing and utilities (+9.4% vs +10.0% in September) and recreation (+3.0% vs +3.5% in September). In contrast, price pressures were higher for restaurants and hotels in October (+8.4% vs +8.3% in September). Meanwhile, consumer prices were up 3.7% in October, following a 4.2% rise in the previous month. Lastly, harmonized consumer prices were up 0.18% in October on a month-on-month basis, following a 0.58% decline in the prior month.

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