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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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Ottawa to Remove Federal Exceptions from Canadian Free Trade Agreement

 

In a significant move to bolster interprovincial trade, the Canadian government has announced the removal of more than half of its federal exceptions from the Canadian Free Trade Agreement (CFTA). This decision, spearheaded by Internal Trade Minister Anita Anand, aims to reduce internal trade barriers and enhance economic cooperation across provinces.

The CFTA, established in 2017, was designed to modernize the Agreement on Internal Trade and facilitate the free movement of goods, services, and labor within Canada. However, numerous exceptions have hindered its effectiveness. The federal government initially had 56 exceptions, but with the recent removal of 20 more, the total now stands at 19.

The majority of the removed exceptions pertain to government procurement, providing Canadian businesses with greater opportunities to compete nationwide. This action is expected to lower prices, boost productivity, and add up to $200 billion to the domestic economy.

Minister Anand emphasized the importance of mutual recognition of rules across provinces to streamline labor mobility and reduce regulatory burdens. The federal government is encouraging provinces and territories to follow suit and eliminate their own trade barriers.

This announcement comes at a critical time, as Canada faces potential trade disruptions from the United States. By strengthening internal trade, Canada aims to become less reliant on its southern neighbor and build a more resilient domestic economy.

The Committee on Internal Trade will review the federal changes and continue working with provinces to improve internal trade. More announcements are expected in the coming weeks as Canada strives to create a more open and efficient domestic market.



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