Canada: Inflation increases in August
Inflation came in at 4.0% in August, which was up from July’s 3.3% and beat market expectations. Looking at the details of the release, prices for housing rose at a quicker pace in August, and prices for transportation rebounded. However, food price growth softened.
Annual average inflation ticked down to 5.0% in August (July: 5.2%). Meanwhile, core inflation ticked up to 3.3% in August, from July’s 3.2%.
Finally, consumer prices rose 0.38% over the previous month in August, below the 0.57% rise recorded in July.