Canada’s inflation rises to 3% on higher gasoline prices
OTTAWA, Aug 17 (Reuters) - Canada’s annual inflation rate accelerated to 3% in July, slightly more than expected, as renewed United States-Iran tensions drove gasoline prices, while the cost of travel tours also rose, data showed on Monday. On a monthly basis, the consumer price index rose by 0.5%, Statistics Canada said, once again driven by an increase in gasoline costs.
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OTTAWA, Aug 17 (Reuters) - Canada’s annual inflation rate accelerated to 3% in July, slightly more than expected, as renewed United States-Iran tensions drove gasoline prices, while the cost of travel tours also rose, data showed on Monday. On a monthly basis, the consumer price index rose by 0.5%, Statistics Canada said, once again driven by an increase in gasoline costs. The inflation rate now sits at the ceiling of the Bank of Canada’s 1% to 3% control range. - Analysts polled by Reuters had projected consumer prices to rise 2.9% annually and 0.4% on a monthly basis in July.
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- OTTAWA, Aug 17 (Reuters) - Canada’s annual inflation rate accelerated to 3% in July, slightly more than expected, as renewed United States-Iran tensions drove gasoline prices, while the cost of travel tours also rose, data showed on Monday. On a monthly basis, the consumer price index rose by 0.5%, Statistics Canada said, once again driven by an increase in gasoline costs.
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- 2 outlets, average source rating 6.0/10.
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Canada’s July annual inflation accelerates to 3% as gasoline rebounds
Sources1TypeCoverageInvesting.com · Economy