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RBC says the decline is expected in part because gasoline prices were down five per cent in October, while food price inflation should remain around 3.8 per cent.

Nathan Janzen, assistant chief economist at RBC, says inflation numbers are being tamped down by the removal of the carbon tax earlier this year, but are still showing upward pressure.

He says robust consumer spending has helped bolster inflation, despite rising unemployment. 

Desjardins says the removal of retaliatory tariffs, most of which were lifted in September, should help ease pressure on inflation in the coming months. 

This report by ºÃÉ«tvwas first published Nov. 14, 2025.