Signs of reacceleration in Canadian inflation in August

September 20, 2023 | Claire Fan and Abbey Xu


Signs of reacceleration in Canadian inflation in August

  • Higher prices at the pump pushed Canadian headline inflation rate up.
  • Food costs are still high but growing at a slower pace.
  • Mortgage interest costs continue to drive a disproportionate share of headline price growth.
  • But the Bank of Canada’s preferred inflation measures also accelerated further above the 2% target.
  • The breadth of inflationary pressures remain wide in Canada.

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