Canada's inflation rate would be 2.2% if gasoline prices were excluded.
Posted by Your World Tonight, Checked
- Sources
- 5 support
- Said
- 1 time·
- Confidence
- 95%
Your World TonightOct 28, 2026
Statistics Canada and the Bank of Canada both report that Canada's CPI inflation excluding gasoline was 2.2% in September 2026, against 3.1% headline, so the claimed figure matches the record. The claim refers to September data and matches the post's own wording, so the extraction is faithful.
What was said
… He's worried about a possible spillover of that energy inflation into the rest of the economy. Canada's inflation rate came in at 3.1% in September, but that was driven almost entirely by gas prices. If we strip out gasoline, that number would be much lower, at 2.2%. Pedro Antunes is chief economist at Signal 49 Research. A broader base to increase in prices, but I think the bank is starting to be concerned about what's coming down. …
Your World Tonight · · from the transcriptPost →What we found
Supports. Statistics Canada's September 2026 CPI release states that excluding gasoline, the CPI rose 2.2% after 2.4% in August, while headline CPI rose 3.1%.[2]
Supports. The Bank of Canada's Monetary Policy Report states that CPI inflation was 3.1% in September and that, excluding gasoline, inflation was 2.2%.[3][4]
Supports. Reuters' October 28 rate decision coverage also reports that excluding gasoline, inflation was 2.2% in September, and Morningstar and Reuters' September coverage echo the same figure.[1][5]
Context. The 2.2% figure is a year-over-year rate for September 2026 with gasoline excluded, not a counterfactual forecast; it is a measured figure, consistent with the post's 'that number would be much lower' framing.[2][3]
Sources
5 sources: 1 fact-checker, 4 not rated
- 1FULL TEXT- Bank of Canada raises key rate to 2.50%reuters.com · fact-checker · cited for: supports
- 2Consumer Price Index, September 2026www150.statcan.gc.ca · not rated · cited for: supports, context
- 3Monetary Policy Reportstatic.bankofcanada.ca · not rated · cited for: supports, context
- 4Current conditionsbankofcanada.ca · not rated · cited for: supports
- 5Canada Inflation Heats Up in September With Jump in Gas ...morningstar.com · not rated · cited for: supports
Where this claim was made
Said in 1 published post