Canadian Inflation Rises At Fastest Pace In 7 Years

OTTAWA — Statistics Canada says higher gasoline prices helped push the country's annual inflation rate in July to its highest reading since September 2011.

The federal agency says the consumer price index for July was up 3.0 per cent on a year-over-year basis compared with a 2.5 per cent increase in June.

Economists had expected a year-over-year inflation rate of 2.5 per cent, according to Thomson Reuters Eikon.

Consumer prices for gasoline were up 25.4 per cent, while the cost of air...

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