👉Canada's inflation rate eased to 3.1% YoY in October, down from 3.8% in September, largely attributed to a 7.8% drop in gasoline prices. Excluding gasoline, the consumer price index increased by 3.6%. Prices for goods rose by 1.6%, while services increased by 4.6%, driven by higher costs for travel tours, rent, and special charges. Bank of Montreal's chief economist, Douglas Porter, suggests the report supports no need for further interest rate hikes amid economic challenges. Mortgage interest costs surged by 30.5%, and rent increased by 8.2%, contributing to inflation.✅ . . #InflationUpdate #StatisticsCanada #EconomicIndicators #FinancialNews #InflationData #EconomicStatistics #CanadianEconomy #mnm #malayalisnearmeapp #canadaupdate #canadanews