Analysts polled by Reuters had expected the annual rate to rise
to 4.7%. October marked the seventh consecutive month in which
headline inflation topped the Bank of Canada's 1-3% targeted
range.
CPI common, which the central bank calls the best gauge of the
economy's underperformance, was unchanged at 1.8%.
The Bank of Canada signaled last month that it could hike its
overnight interest rate as early as April 2022, while warning
inflation was likely to rise further this year and stay above
target through most of next year.
The Canadian dollar was trading 0.1% lower at C$1.2575 to the
greenback, or 79.52 U.S. cents, after the data.
(Reporting by Julie Gordon and David Ljunggren in Ottawa and
Fergal Smith in Toronto; Editing by Andrew Heavens and
Bernadette Baum)
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