Canada's inflation rate was 0.1 per cent in August, Statistics Canada says, the same level it was at in July. Gas prices were down by 11.1 per cent in August, compared to where they were a year ago. Rate below BoC targetsThere was wide variation across the country, too, as the inflation rate was positive in five provinces, but negative in the other five. The rate is well below the range that the Bank of Canada targets in considering where to set its benchmark interest rate. When the rate is high, the bank hikes its rate to cool things down.

Source: CBC News September 16, 2020 13:21 UTC