Inflation jumps to 4% The Canadian Press – Sep 19, 2023 / 6:45 am | Story: 447495 Photo: The Canadian Press Higher gasoline prices drove Canada’s inflation rate to 4.0 per cent in August, making it the second month in a row inflation has risen. Statistics Canada released its consumer price index report Tuesday, which shows the annual rate rose from 3.3 per cent in July. In British Columbia, inflation jumped to 3.8 per cent, up from 3.0 per cent in July. Economists widely expected this uptick in inflation and anticipate slower progress on getting price growth down over the next few months. On a monthly basis, though, prices rose at a slower pace in August compared with July, largely du
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