Canada's CPI rises 1.9 pct in August

Alsharq Tribune-AFP 

Canada's Consumer Price Index (CPI) rose 1.9 percent year over year in August, up from a 1.7 percent increase in July, Statistics Canada said Tuesday.

Gasoline prices fell to a lesser extent year over year in August than in July, leading to faster growth in headline inflation, said the national statistical agency.

Excluding gasoline, the CPI rose 2.4 percent in August after increasing 2.5 percent in each of the previous three months, said the agency.

Moderating the acceleration in the all-items CPI were lower prices for travel tours and fresh fruit compared with July, it said.

Prices for travel tours declined 9.3 percent annually in August following a 1.7 percent decrease in July. Lower demand for destinations from the United States contributed to lower prices in August, according to the agency.

The CPI decreased 0.1 percent month over month in August, said Statistics Canada.