Canada Inflation Quickens to 4%, Driven by Higher Gas Prices

From bnnbloomberg.ca

Canada’s rate of inflation accelerated by more than expected for the second straight month, but the gains that are largely driven by higher gasoline prices may allow the Bank of Canada to look past the setback. The consumer price index rose 4% in August from a year ago, the quickest pace since April, following a 3.3% increase in July, Statistics Canada reported Tuesday in Ottawa. That’s faster than the median estimate of 3.8% in a Bloomberg survey of economists. On a monthly basis, the index rose 0.4%, double the expectations. Two key yearly inflation measures that filter out index components with extreme price ... (full story)