Canadian inflation remains stable, but tariffs and oil prices may drive future data higher

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智通财经2026/09/14 13:01

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In August, Canada's annual inflation rate remained at 3%, unchanged from the previous month. Firm crude oil prices pushed up gasoline costs, while food prices saw only a mild decline.
Gasoline prices edged down slightly in August but were still up around 23% year-on-year, narrowing from the approximately 26% increase in July.
Since July, food prices have continued to rise faster than overall inflation, though growth eased slightly in August, with a year-on-year increase of about 3%—the first time in 14 months that it has fallen below the 3% mark.
Given that benchmark Brent crude oil prices broke above $100 per barrel this month, coupled with the newly introduced 50% tariffs from Trump and retaliatory measures from Canada, overall costs for the month will be impacted. Next month’s consumer price index data may strengthen further.
The Bank of Canada previously stated that if inflation remains elevated and spreads to the closely-watched core indicators, it will not hesitate to raise rates multiple times. As a result, market attention to the future policy path has intensified.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Canadian inflation remains stable, but tariffs and oil prices may drive future data higher

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