Inflation cools to 2.2% as gas, grocery prices fall in October

Statistics Canada says cheaper gasoline and groceries helped bring inflation down a couple ticks to 2.2 per cent in October.

The agency says gas prices fell at a faster rate in October compared to September as fuel retailers switched to cheaper winter blends.

Grocery prices meanwhile fell 0.6 per cent in October for the biggest monthly price drop at the grocery store in more than five years.

Annual grocery store inflation also cooled in October as bigger price hikes for chicken were offset by cooling costs for some food preparations and fresh vegetables.

The annual October inflation figures were a tick higher than economists expected but slowed from 2.4 per cent in September.

Keeping the inflation rate sticky last month was a rare increase in cellular service costs, which StatCan says