Canadian consumer prices rose 2.1 per cent in the 12 months to August, matching the rate of inflation in July. The Bank of Canada's core measure of inflation, which excludes volatile prices such as energy and food products, ticked 0.4 points higher to 2.1 per cent. Consumer prices in BC rose 1.4 per cent.
While CPI inflation has been trending close to the Bank of Canada's 2 per cent target, the jump in core inflation pushed that measure above 2 per cent for the first time since 2012. That surge in core inflation will likely put some pressure on long-term interest rates, particularly if it proves to be more than a transitory blip in prices.
Copyright BCREA - reprinted with permission
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