Canada’s August inflation jumps to 4%

OTTAWA -Canada's annualinflationratein August jumped to 4 percent from 3.3 percent in July on higher gasoline prices, data showed on Tuesday, a sign the central bank may be forced to raise interestrates yet again after 10hikes since March of last year. Analysts polled by Reuters had forecast thatinflationwould hit 3.8 percent. The consumer price index rose 0.4 percent on a month-over-month basis in August, Statistics Canada said, compared with a predicted 0.3 percent gain. Two of the three coreinflationmeasures also rose. The annualrate, the highest since the 4.4 percent reported in April, is double the Bank of Canada's 2 percent target. The main driver was a 0.8 percent year-o...Keep on reading: Canada’s August inflation jumps to 4%

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