Canada August inflation steady at 3 percent
Canadas annual inflation rate held steady at 3 percent in August as crude prices remained firm and food price growth eased slightly. Core inflation measures hovered around 2 percent, keeping well within the central bank target range.
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Canada's annual CPI growth rate held at 3% in August as crude prices stayed firm and food price deceleration offset rising travel costs, official data showed on Monday. Economists polled by Reuters had forecast the annual inflation rate at 3% with no change on a monthly basis. The reading keeps pressure on the central bank as energy costs face upward pressure from benchmark Brent Crude Oil crossing $100 per barrel.
