The Consumer Price Index (CPI) in Canada grew by approximately 3% year-on-year in August, according to figures released moments ago. This is the same increase as July, remaining unchanged. The core CPI, which excludes gasoline prices, rose to 2.4% year-on-year, compared to 2.2% in July, marking its fourth consecutive monthly increase.

On a monthly basis, the index fell by 0.1% in August, following a rise of approximately 0.5% in July, matching market expectations.

The biggest contributor to the stability of inflation in August came from the energy sector. Gasoline prices rose at a slower pace than in July, reaching 22.8% year-on-year, after a 25.7% increase in July. Travel and leisure prices also rose by 26.1%, compared to 15.2% in July.