Canadian inflation, as measured by the Consumer Price Index (CPI), rose by 1.9 per cent compared to the same time last year, equaling the increase in August. Excluding the impact of lower energy prices, the CPI was up 2.4 per cent year-over-year. The Bank of Canada's three measures of trend inflation were all slightly higher in September, averaging 2.1 per cent. In B.C., CPI inflation ticked higher to 2.4 per cent in September compared to a year ago.

A recent surge in national employment growth combined with inflation at its 2 per cent target, plus some quieting of trade tensions globally, means that the Bank of Canada will likely remain on hold at its October meeting.