The Financial Post reports in its Tuesday, Nov. 18, edition that Canada's inflation rate of 2.2 per cent in October is approaching the Bank of Canada's target of 2 per cent, but some underlying inflation numbers have economists expecting policy-makers to hold rates at their next meeting. A Postmedia dispatch to the Post reports that Bank of Montreal economist Douglas Porter called Monday's inflation data "a tad on the disappointing side," mainly because the dip in inflation was largely from a drop in gasoline and food prices, while other measures rose. Mr. Porter called the Consumer Price Index report "mildly friendly' on the surface, but said the underlying numbers are not great, meaning the Bank of Canada is likely to once again hold rates again at its next meeting on Dec. 10. Royal Bank of Canada economist Abbey Xu said the inflation reading was a mixed bag for the BOC. On one hand, median price growth was up only 0.1 per cent, but the three-month average remained above 2.5 per cent. Still, inflation fell in line with what Ms. Xu was expecting, as resilient consumer demand has kept prices elevated, leading her to expect an interest rate hold in December.