{"id":77205,"date":"2026-08-17T12:49:13","date_gmt":"2026-08-17T12:49:13","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2026\/08\/17\/canadas-inflation-rate-creeps-up-to-3-after-gas-prices-spike\/"},"modified":"2026-08-17T12:49:13","modified_gmt":"2026-08-17T12:49:13","slug":"canadas-inflation-rate-creeps-up-to-3-after-gas-prices-spike","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2026\/08\/17\/canadas-inflation-rate-creeps-up-to-3-after-gas-prices-spike\/","title":{"rendered":"Canada&#039;s inflation rate creeps up to 3% after gas prices spike"},"content":{"rendered":"<p> \n<br \/><\/p>\n<p> Higher gasoline prices pushed Canada\u2019s inflation rate up to three per cent in July from 2.8 per cent in June, an increase economists had widely anticipated. <\/p>\n<p> Gasoline prices rose by 25.7 per cent year-over-year in July following a 20.5 per cent gain a month prior, according to monthly data from Statistics Canada released on Monday. <\/p>\n<p> Officials attributed the spike to the ongoing conflict in the Middle East and the blockade of the Strait of Hormuz , along with the partial closure of Red Sea shipping routes in late July. <\/p>\n<p> While inflation ticked higher overall, food inflation slowed to 3.1 per cent year-over-year in July following a 3.9 per cent increase in June. <\/p>\n<p> Slower price growth for fresh vegetables and chicken, as well as lower prices for cereal products drove the slowdown, which was offset by higher prices for fresh fruit. <\/p>\n<ul class=\"related_links\">\n<li>Ottawa undecided on extending gas tax holiday that ends Sept. 7, minister says<\/li>\n<li>Fed up with rising airfares and pump prices? Blame the &#8216;crack spread&#8217; \u2014 it&#8217;s at record highs<\/li>\n<\/ul>\n<p> July still marked the 18th month that grocery price inflation outpaced overall inflation. <\/p>\n<p> Core inflation measures, which excludes volatile components such as food and gasoline, remained stable in July. CPI-median and CPI-trim hovered at two per cent and 1.9 per cent, respectively. <\/p>\n<p> <em>\u2022 Email: ptran@postmedia.com <\/em> <\/p>\n\n<br \/>Canada&#039;s inflation rate creeps up to 3% after gas prices spike<\/a><br \/>\n<br \/>2026-08-17 12:49:13<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Higher gasoline prices pushed Canada\u2019s inflation rate up to three per cent in July from 2.8 per cent in June, an increase economists had widely anticipated. Gasoline prices rose by&#8230;<\/p>\n","protected":false},"author":2,"featured_media":77206,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":["post-77205","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/77205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=77205"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/77205\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/77206"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=77205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=77205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=77205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}