Shafaqna English– Data released on Monday(17 Aug 2026) revealed that Canada’s annual inflation rate picked up to 3% in July—marginally above market forecasts—as gasoline prices were pushed higher by renewed geopolitical friction between the United States and Iran, while the cost of travel packages also contributed to the upward pressure on consumer prices.
Statistics Canada reported that the consumer price index rose by 0.5% on a month-over-month basis in July, with the increase once again primarily driven by higher gasoline prices, mirroring the trend observed in the annual data.
Source: Reuters