Economy· August 17, 2026 at 01:21 p.m.
Canada's July Inflation Rises to 3% Amid Gasoline Price Recovery
Key takeaways
- Canada's annual inflation rate rose to 3% in July
- The increase was due to a rebound in gasoline prices
- This is the highest annual inflation rate since January 2019
Canada's annual inflation rate for July increased to 3%, up from June's 2.4%. The surge was primarily driven by a rebound in gasoline prices, according to reports. This marks the highest annual inflation rate since January 2019. The increase could have implications for the Bank of Canada's monetary policy.