Economy· August 17, 2026 at 03:51 p.m.
Inflation in Canada Rises to 3% Due to Gas Price Rebound
Key takeaways
- Canada's inflation rate reached 3% in July
- Gas prices were the primary driver of the increase
- Transportation costs rose by 16.7%
Canada's inflation rate increased to 3% in July, according to Statistics Canada (StatCan). The surge was primarily driven by a rebound in gas prices. This marks the highest annual inflation rate since January 2019. The increase in gas prices led to a 16.7% jump in transportation costs.