Kevin Carmichael: Remember inflation? It’s back to haunt us

TORONTO — You remember the Consumer Price Index, right? If not, time to reacquaint yourself. The indicator is newsy again.

The CPI rose three per cent in July from a year earlier, the biggest increase since 2011, Statistics Canada reported Friday.

So forget all you’ve been reading about disinflation; prices now are at the outer limit of the Bank of Canada’s comfort zone. All things equal, the latest figures increase the odds of a rate increase before the end of the year, adding to...

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