Annual inflation rate was 6.9% in September: StatCan

The annual inflation rate in Canada fell to 6.9 per cent in September.

Statistics Canada says the slight decrease from 7.0 per cent a month before is mostly due to lower gas prices.

Gas prices dropped by 7.4 per cent in September from August.

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Grocery prices increased the most since August 1981, with prices up 11.4 per cent compared with a year ago.

Statistics Canada says food prices have outstretched the overall inflation rate for 10 consecutive months.

For homeowners or prospective buyers, higher interest rates are elevating the cost of mortgage interest, while other costs rise at a slower pace.