Canada's inflation rate rose to 1.9% in August
CBC News · Just In
CBC News
Just In
Canada's annual inflation rate rose to 1.9% in August, Statistics Canada said on Tuesday. Gas prices, which dropped at a rate of more than 16 per cent in July, were still declining in August — but at a slower pace than they had previously, contributing to the upward tick in the overall inflation rate.
Breakdown
- Canada's inflation rate rose to 1.9% in August, up from July. 10s
- Gasoline prices fell 12.7% year-over-year, less than the previous month's drop. 53s
- The Consumer Price Index declined 0.1% month-over-month in August. 1m 17s
- Core inflation measures watched by the Bank of Canada came in at 2.6%, below expectations. 2m 40s
- Markets expect a high probability of a Bank of Canada interest rate cut following the new data. 2m 51s