OTTAWA—Canada’s annual inflation rate accelerated to an 18-year-high in September, driven by high gas prices, soaring housing costs, and rising food prices, data showed on Wednesday, putting the focus on the Bank of Canada ahead of a rate decision next week.
Inflation increased to 4.4 percent, beating the average analyst estimate of 4.3 percent, to reach its fastest clip since February 2003, Statistics Canada data showed. It was the sixth consecutive month in which headline inflation topped the central bank’s 1–3 percent control range.
