Canadian Inflation Steady as Gas Prices Rise Less Steeply
Dow Jones
Yesterday
0914 ET - A smaller jump in gasoline prices helped keep Canadian inflation in check last month, albeit at an elevated 3%. The pace was in line with the consensus call among economists and leaves headline inflation at the top end of the 1%-3% window the Bank of Canada shoots for. Slightly more comforting for the central bank, its preferred median and trim measures also held steady in August, averaging 1.95%. Still, inflation excluding gasoline did accelerate to 2.4% annually from 2.2% a month prior. Canadians faced higher rent costs and a rise in travel tour prices, though they paid less for clothing and grocery-price inflation for the first time since July 2024 increased at a slower pace than headline inflation.
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