Canada's inflation held at 3 percent as travel costs offset slower gasoline

Canada's consumer price index rose 3.0 percent in August from a year earlier, matching July, Statistics Canada reported.

The headline held steady. Gasoline prices rose 22.8 percent, slower than July's 25.7 percent increase. That relief was offset by travel tours, up 26.1 percent, and rent, up 2.8 percent. The index excluding gasoline accelerated to 2.4 percent from 2.2 percent.

Grocery inflation eased to 2.8 percent from 3.1 percent, putting it below the overall rate for the first time since July 2024. The full index fell 0.1 percent from July, but rose 0.2 percent after seasonal adjustment.