Financial Post | Business

OTTAWA — Tame inflation, combined with weak economic growth in Canada and continuing global uncertainty, will keep interest rates near rock-bottom levels for some time to come.

Price gains remained steady again in October, although slightly stronger than expected, with higher food and transportation prices offsetting a slower rise in energy costs.

Inflation overall rose 1.2% last month from the same time a year ago, Statistics Canada said Friday. Core inflation — stripping out volatile items such as some food and energy products — was up 1.3% on an annual basis in October.

Both readings matched September’s price rises, but were less tame than economists had forecast. The consensus had been for overall inflation of 1.1% in October and a core increase of 1.2%.

That compares to an overall price rise of 1.2% in September and a core inflation pace of 1.3%.

Given the Bank of Canada’s monetary policy focuses…

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