Statistics Canada says inflation in October dropped to 3.1 per cent over the 3.8 per cent in September, but was up over the previous year.
The biggest driving factors behind year-over-year inflation for October include mortgage interest rates, groceries and rent.
The Bank of Canada put the brakes on interest rate hikes earlier this month, citing a slight drop in inflation.
In Newfoundland and Labrador, the cost of living in October went up by 2.4 per cent over October 2022, less than the 4.1 year-over-year rate in September.
