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Canada's August inflation holds steady at 3% as crude stays firm; food prices ease
- On Monday, Statistics Canada reported that Canada's annual inflation held at 3% in August, unchanged from July, as firm crude prices offset cooling food costs.
- Gasoline prices climbed 22.8% annually, driven by firm crude, while food inflation eased to 2.8% as dairy products led the slowdown in grocery price growth.
- Costs for tours and travel surged 26.1% in August, acting as a major upside inflation contributor that offset the cooling effect of lower food prices.
- Following the data, two-year government bond yields firmed to 2.703% and the Canadian dollar traded down 0.29%, reflecting investor anticipation of restrictive rate policy.
- Analysts warn that headline inflation may strengthen next month as benchmark Brent crude prices exceed $100 per barrel and President Donald Trump's new 50% tariffs impact costs.
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Canada Inflation Steady at 3% in August
Canadian inflation steadied last month as rising travel costs and a rebound in rents countered a softer jump in gasoline prices. The consumer-price index slipped 0.1% in August, holding the annual rate of inflation at 3%, Statistics Canada said Monday.
·New York, United States
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Canada's August inflation holds steady at 3% as crude stays firm; food prices ease
Canada's annual inflation growth rate held at 3% in August, same as last month, as crude prices continued to stay firm affecting gasoline costs and food prices cooled only moderately, data showed on Monday.
·London, United Kingdom
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Gas prices continued to rely on the inflation accelerator in Canada last month.
·Montreal, Canada
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Total News Sources11
Leaning Left2Leaning Right2Center4Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 25%
C 50%
R 25%
Factuality
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