Inflation expected to bump up, despite long-term drop [Video]

The latest inflation reading due out Tuesday from Statistics Canada is expected to show a slight uptick for the month of October — but economists say the measure is still on a longer-term downward trend.

Economists polled by Reuters expect the consumer price index to come in at 1.9 per cent for October, up from 1.6 per cent in September which was the lowest inflation reading since February 2021.

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The price of gasoline was a key reason the September number came in so low, as oil dropped to a low of around US$65 per barrel at one point. It’s also expected to be a driver for the increase in October, when it crested US$75 per barrel

“We’re expecting headline to go back up to two per cent, but just like how it dropped down …