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Canada’s Inflation Cools to 2.2% in October Amid Cheaper Gas and Groceries

  Motorists fuel up at an ONroute gas station near Maple, Ont., on April 1, 2025. Lower gas prices helped bring overall inflation down in October, Statistics Canada says. Canada’s annual inflation rate eased to 2.2% in October , down from 2.4% in September. The slowdown was largely driven by falling gasoline and grocery prices, offering some relief to consumers after months of persistent cost pressures. Key Drivers of the Decline Gasoline prices dropped 4.8% month-over-month , as retailers switched to cheaper winter fuel blends and global crude oil prices fell due to oversupply concerns. Grocery prices fell 0.6% in October , marking the largest monthly decline since September 2020. Annual grocery inflation cooled to 3.4% , down from 4% in September, with lower costs for processed foods and fresh vegetables offsetting higher prices for chicken. Excluding gasoline, the Consumer Price Index (CPI) rose 2.6% year-over-year , showing that underlying inflationary pressures remain....
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Toronto Housing Market: Sales Dip, Prices Climb After Sluggish Period


Toronto’s real estate landscape is showing signs of a turnaround as we transition into spring. After a year of subdued sales activity, the market is witnessing renewed vigor. Here’s a snapshot of the recent developments:

Sales Activity:

  • February Sales Decline: Greater Toronto area home sales dipped in February, breaking a two-month streak of gains. Despite this, the market remains resilient.
  • Buyer Competition: Last month, competition between buyers started to re-emerge. Listings are attracting more attention, and buyers are increasingly competing with each other.
  • Regaining Confidence: Prospective homebuyers are regaining confidence, even as borrowing costs rise due to interest rate hikes by the Bank of Canada. Unlike last year, when the market was sluggish, buyers are now actively participating.

Price Trends:

  • Average Home Price: In March, the average home price in the Toronto area reached $1,108,606, surpassing the average list price for the first time since May 2022.
  • Still Below 2022 Peak: Despite the recent uptick, prices remain far from their 2022 peak. Detached homes, semi-detached properties, townhouses, and condos all saw price adjustments.
  • Composite Benchmark Price: The composite benchmark price for March was $1,118,500, reflecting a 16.2% year-over-year drop but an increase on a month-over-month basis.
  • Sales Volume: March concluded with 6,896 sales, up from 4,765 in February, although still down nearly 37% from March 2020.

The Toronto housing market is in transition. While prices are recovering, buyers are approaching the market more cautiously. As we head into spring, all eyes are on how this delicate balance between supply, demand, and affordability will evolve.


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