Canada's annual inflation rate rose more than expected to 2.0% in October as gas prices fell less than the previous month, data showed on Tuesday, causing markets to scale back bets on a big rate cut next month.

Inflation in Canada rose by more than forecast and underlying price pressures reaccelerated, hiccups that may dissuade policymakers from a second straight 50 basis-point cut to interest rates next month.

Inflation in Canada rose by more than forecast and underlying price pressures reaccelerated, hiccups that may dissuade policymakers from a second straight 50 basis-point cut to interest rates next month.

Canada's annual inflation rate accelerated more than expected to 2.0% in October as gas prices fell less than the previous month, data showed on Tuesday, likely diluting chances of another large rate cut in December.

The last inflation report to be released before the Bank of Canada’s next interest rate announcement on Dec. 11

The Consumer Price Index — a broad-based measure of inflation — was 2.0 per cent higher than it was a year ago, up from 1.6 per cent in September. That puts it bang-on the Bank of Canada’s inflation target, but was higher than most economists had expected.

Canada’s inflation rate rose to 2% last month, up from 1.6% in September, but a December interest-rate cut is still likely.

Canada’s annual inflation rate rose to 2% in October, up from 1.6% in September, as the decline in gasoline prices moderated, Statistics Canada reported on Tuesday. The increase brings

Canada's annual inflation rate accelerated more than expected to 2% in October as gas prices fell less than the previous month, data showed today, likely diluting chances of another large rate cut in December.

Canada’s annual inflation rate hit 2 per cent in October, up from 1.6 per cent the month before, Statistics Canada said Tuesday. The rate was slightly above economists’ forecast and was mainly due to gas prices falling less in October than they did in September.