Canada: Inflation comes in at highest level since March 2003 in August
Consumer prices rose a seasonally-adjusted 0.42% over the previous month in August, coming in below July’s 0.57% increase. The moderation was primarily driven by a slower rise in prices for housing. In addition, prices for recreation and culture dropped.
Inflation increased to 4.1% in August from July’s 3.7%. August’s figure marked the highest inflation rate since March 2003. Meanwhile, the trend pointed up, with annual average inflation coming in at 2.1% in August (July: 1.8%). Lastly, core inflation ticked up to 3.5% in August, from the previous month’s 3.3%.