Statistics Canada says the country’s annual inflation rate rose to four per cent last month, up from 3.3 per cent in July.
The rise in inflation was largely driven by gasoline prices, which were up on an annual and monthly basis.
August marks the second consecutive month inflation has risen as economists expect progress on getting inflation down to stall over the next few months. The federal agency says although price growth accelerated on an annual basis, prices rose more slowly month-over-month as prices for travel tours and air transportation fell.
Meanwhile, grocery prices rose at a slower annual pace, rising 6.9 per cent from a year ago compared with a reading of 8.5 per cent last month.This report by The Canadian Press was first published Sept. 19, 2023.
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Canada’s inflation rate reaches four per cent in August: StatCanOTTAWA — Statistics Canada says the country’s annual inflation rate rose to four per cent last month, up from 3.3 per cent in July. The rise in inflation was largely driven by gasoline prices, which were up on an annual and monthly basis.
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Canada’s inflation rate reaches four per cent in August: StatCanOTTAWA — Statistics Canada says the country’s annual inflation rate rose to four per cent last month, up from 3.3 per cent in July. The rise in inflation was largely driven by gasoline prices, which were up on an annual and monthly basis.
Read more »
Canada’s inflation rate reaches four per cent in August: StatCanOTTAWA — Statistics Canada says the country’s annual inflation rate rose to four per cent last month, up from 3.3 per cent in July. The rise in inflation was largely driven by gasoline prices, which were up on an annual and monthly basis.
Read more »
Statistics Canada to release inflation figures for August this morningOTTAWA — Statistics Canada will release its latest reading on inflation this morning. The agency will publish its consumer price index for August. Economists are forecasting inflation reaccelerated to around four per cent last month, reversing previous progress made as gasoline prices push inflation higher. Canada's annual inflation rate fell to 2.8 per cent on an annualized basis in June, entering the Bank of Canada's target range of one to three per cent for the first time since March 2021. Ho
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Statistics Canada to release inflation figures for August this morningStatistics Canada will release its latest reading on inflation this morning.
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Statistics Canada to release inflation figures for August this morningStatistics Canada will release its latest reading on inflation this morning.
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