The consumer price index increased three per cent in August from a year earlier, matching the previous month, Statistics Canada reported. The surge in gasoline prices slowed to 22.8 per cent from 25.7 per cent in July, when U.S. attempts to end the Iran war fell apart. (The Logic)

Talking point: The Bank of Canada aims to keep the consumer price index advancing at an annual pace of about two per cent, but doesn’t panic if headline inflation lands within a percentage point on either side of its target. Consecutive readings at the top of that zone are cause for concern, but the central bank will be wary of raising interest rates before the U.S. and Canada achieve trade peace. Excluding gasoline, the price index increased 2.4 per cent, as the cost of clothing fell. Also noteworthy, grocery prices increased 2.8 per cent, lower than the headline figure for the first time since July 2024.

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