DJ Canada Annual CPI Rises 4.1% in August, Highest Level Since 2003
2021 Dow Jones & Company, Inc.
By Paul Vieira
OTTAWA--Canada's annual inflation rate rose in August past the 4% level to a nearly two-decade high on increased prices for gasoline and higher costs associated with shelter.
Canada's consumer-price index climbed 4.1% on a year-over-year basis in August, Statistics Canada said Wednesday, following a 3.7% advance in the previous month. Market expectations were for a 3.9% rise in August, according to economists at Desjardins Securities. The one-year gain in headline inflation is the biggest since March, 2003.
On a month-over-month basis, prices climbed 0.2% in August. On a seasonally adjusted basis, CPI rose 0.4% from the previous month.
Meanwhile, the average of the Bank of Canada's preferred measures for underlying core inflation in August was 2.57%, or the highest level since March 2009. Core inflation is meant to gauge price changes in items that exclude volatile goods like food and energy.
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(END) Dow Jones Newswires
September 15, 2021 08:41 ET (12:41 GMT)
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