Economy· August 17, 2026 at 03:13 p.m.
Canadian Inflation Rate Hits 3% in July Due to Rising Gas Prices
Key takeaways
- Inflation rate increased to 3% in July
- Gas prices contributed significantly to the rise
- Monthly CPI increase was the largest since January 2019
The inflation rate in Canada increased to 3% in July, marking a significant jump from the previous month's rate of 2.4%. The rise can be attributed to a surge in gas prices, which have been on an upward trend for several months.