Inflation cools sharply to 3.1% amid lower gas prices

The annual rate of inflation slowed sharply to 3.1 per cent in October as Canadians saw relief as the gas pumps, Statistics Canada said Tuesday.

That’s down from the overall inflation rate of 3.8 per cent in September.

Gas prices fell 6.4 per cent month-over-month, StatCan said, partly thanks to producers switching to cheaper winter blends.

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