OTTAWA — Canada’s annual inflation rate increased to 2.4% in September, according to Statistics Canada. This marks a rise from August’s rate of 1.9%. The Consumer Price Index (CPI) reflects the change in prices for consumer goods and services over the past year.

The Bank of Canada monitors this inflation gauge, along with wholesale prices, Gross Domestic Product, and employment data, to guide its monetary policy decisions. The central bank is scheduled to announce its next interest rate decision on October 29.

Statistics Canada also released inflation rates for several major cities, noting that these figures may vary significantly due to small sample sizes. The following are the inflation rates for selected cities in September, with the previous month’s rates in parentheses:

- St. John’s, N.L.: 2.0% (1.2%) - Charlottetown-Summerside: 1.7% (1.1%) - Halifax: 2.8% (2.4%) - Saint John, N.B.: 2.3% (1.7%) - Quebec City: 3.5% (3.0%) - Montreal: 3.4% (2.8%) - Ottawa: 2.1% (1.7%) - Toronto: 1.8% (1.4%) - Thunder Bay, Ont.: 1.5% (1.0%) - Winnipeg: 2.8% (2.2%) - Regina: 2.8% (2.1%) - Saskatoon: 2.9% (1.6%) - Edmonton: 1.7% (1.3%) - Calgary: 2.1% (1.4%) - Vancouver: 1.9% (2.1%) - Victoria: 2.4% (2.3%) - Whitehorse: 2.9% (3.1%) - Yellowknife: 1.9% (1.9%) - Iqaluit: 0.7% (0.7%)

The inflation data indicates a general upward trend in consumer prices across the country, with some cities experiencing more significant increases than others. The upcoming interest rate announcement will be closely watched as it may impact borrowing costs for Canadians.