US EditionCanada’s inflation rate jumps to 4.0% in August on higher gas prices
- Canada's annual inflation rate rose to 4.0 per cent in August, surpassing the Bank of Canada's target of 2 per cent. The increase was mainly driven by higher gasoline prices, which saw a year-on-year increase of 0.8 per cent after a significant drop in the previous year.
- Two out of three of the Bank of Canada's core measures for underlying inflation also showed gains. CPI-median increased to 4.1 per cent and CPI-trim rose to 3.9 per cent in August. This suggests that inflationary pressures are persistent and warrant attention.
- Bank of Canada Governor Tiff Macklem predicted that inflation will continue to rise in the near term due to an increase in oil prices. Despite weak economic growth, the central bank has kept its key overnight interest rate at 5 per cent, but has stated that borrowing costs may be raised if inflationary pressures persist.
42 Articles
42 Articles
Canada's August inflation jumps to 4%
OTTAWA -Canada’s annual inflation rate in August jumped to 4 percent from 3.3 percent in July on higher gasoline prices, data showed on Tuesday, a sign the central bank may be forced to raise interest rates yet again after 10 hikes since March of last year. Analysts polled by Reuters had forecast that inflation would hit 3.8 percent. The consumer price index
Canada's inflation rate jumps to 4%, making the BoC's next rate decision harder
OTTAWA — Canada's inflation rate has been rising for two consecutive months as underlying price pressures remain stubbornly high, a combination that makes the Bank of Canada's next interest rate decision more challenging.
Canada's inflation rate jumps to 4%, making the BoC's next rate decision harder
OTTAWA — Canada's inflation rate has been rising for two consecutive months as underlying price pressures remain stubbornly high, a combination that makes the Bank of Canada's next interest rate decision more challenging.
Canada’s inflation rate jumps to 4%, making the BoC’s next rate decision harder - Red Deer Advocate
Canada’s inflation rate jumped to four per cent last month, as economists warn the latest consumer price index report spells bad news for the Bank of Canada. Statistics Canada released its latest inflation reading on Tuesday, which shows the annual rate rose from 3.3 per cent in July, marking the second consecutive month inflation has risen. Forecasters were widely anticipating inflation to come in hotter last month due to higher gasoline prices…
Coverage Details
Bias Distribution
- 56% of the sources lean Left
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
