Canada's CPI Holds at 3.0% in August, as Expected, With Travel and Rent Offsetting Slower Gasoline Price Growth

08:55 AM EDT, 09/14/2026 (MT Newswires) -- Canada's consumer price index held at 3.0% annualized in August, unchanged from July, while CPI declined 0.1% monthly on a non-seasonally adjusted basis, Statistics Canada said Monday. The annual and monthly CPI for August were in line with the consensus estimates according to a Bloomberg survey. Slower gasoline price growth offered some relief, with prices up 22.8% annually in August versus 25.7% in July, Statistics Canada wrote in a statement. Excluding gasoline, however, CPI inflation accelerated to 2.4% annually from 2.2%. Higher travel and rent costs offset weaker gasoline inflation, added StatsCan. Travel tour prices rose 26.1% annually in August, up from 15.2% in July, reflecting base effects and higher jet-fuel surcharges. Rent inflation also picked up to 2.8% from 2.5%. Food inflation moderated, with grocery prices up 2.8% annually in August versus 3.1% in July. Grocery inflation fell below headline CPI for the first time since July 2024, the agency said. The monthly and quarterly CPI reports, reported by StatsCan, measure the index level of prices paid by consumers for a basket of goods and services such as food, energy, vehicle, medical care, apparel, and housing. The core measure, which excludes food and energy due to their volatility, is closely watched by markets and the Bank of Canada as a sign of underlying inflation pressures.