The Canadian Statistics Office issued today, Tuesday, inflation data for September, which was disappointing and negative compared to market expectations, showing a monthly inflation contraction of 0.4%, greater than the expectations indicating a contraction of 0.2%. The previous reading for August recorded a contraction of 0.2%.

On an annual basis, the data showed a slowdown in the growth of the Consumer Price Index to 1.6% in August, which also came in lower than market expectations that suggested a slowdown in the Consumer Price Index growth to just 2.0%. The Canadian Consumer Price Index had recorded around 2.0% by the end of the previous August.

On the other hand, the growth in the core Consumer Price Index (excluding food, fuel, mortgage, transport, and tobacco products) was around 1.6% on an annual basis during the past September, after the previous reading recorded about 1.5% by the end of last August.