September 19, 2023
Inflation Rate Takes Another Jump
Canada’s annual inflation rate rose to 4 percent last month – up from 3.3 percent in July.
Statistics Canada says higher gasoline prices get most of the blame, up on a monthly and annual basis.
Between July and August, grocery prices were down almost a half a percent, but they rose at a slower annual pace, up 6.9 percent from a year ago, compared with 8.5 percent in july.
August marks the second straight month inflation has risen, something many economists had expected, saying a drop in inflation will likely take a pause over the next few months.
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