The Consumer Price Index (CPI) rose 4.0% year over year in August, following a 3.3% increase in July. The headline acceleration was largely the result of higher year-over-year prices for gasoline in August (+0.8%) compared with July (-12.9%). Excluding gasoline, the CPI rose 4.1% in August, matching the 4.1% increase in July.
Tiff Macklem, governor of the Bank of Canada
In addition to facing higher energy...
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