OTTAWA — Canada’s annual inflation rate remained at three per cent in August, according to new data released Monday.
The rate was unchanged from July as higher crude-oil prices continued to affect gasoline costs while food-price increases eased only modestly.
The figures arrive during an unusually uncertain period for Canadian consumers, with oil prices elevated and the country’s escalating trade dispute with the United States creating additional pressure on the cost of imported goods.
Economists will now be watching September’s inflation figures closely because they will capture a fuller month of higher oil prices along with the effects of new Canadian and American trade measures.
The inflation report is also an important piece of information for future Bank of Canada interest-rate decisions.
