Canada’s Inflation Accelerates As Gasoline Prices Rise

Canada’s annual inflation accelerated to 4% in August from a 3.3% rise in July, mostly on the back of higher gasoline prices last month, Statistics Canada said on Tuesday, as high oil and gasoline prices stoke up inflation rates globally. Gasoline prices in Canada increased by 0.8% annually in August compared to a 12.9% annual drop in July, the official Canadian data showed. Excluding gasoline, the Consumer Price Index (CPI) in Canada rose by 4.1% in August, matching the same increase in July.    “In addition to…