Canada: Consumer Price Index (CPI) rose 1.6% on a year-over-year basis in September

"The Consumer Price Index (CPI) rose 1.6% on a year-over-year basis in September, following a 1.4% gain in August," the Statistics Canada announced on Friday.

Key takeaways:

• The all-items CPI excluding gasoline rose 1.1% year over year in September, matching the gain in both July and August.
• Prices were up in six of the eight major CPI components in the 12 months to September, with the transportation and shelter indexes contributing the most to the year-over-year rise. 
• Transportation costs rose 3.8% on a year-over-year basis in September, following a 2.8% increase in August.
• For a third consecutive month, gasoline prices were the largest contributor to the gain in transportation prices and also to their acceleration.