Canada's inflation rate inched up to an annualized 1.4 per cent in August, as gasoline prices and airfares got more expensive. Statistics Canada reported that transportation costs rose by 2.8 per cent in the year up to August. Gasoline prices were a major driver of the increase, up 8.6 in the past year. The overall inflation rate increased in every province except Manitoba, where it was unchanged at 0.9 per cent. The inflation rate is one of the major factors that the Bank of Canada looks at in setting its benchmark interest rate.

Source: CBC News September 22, 2017 12:57 UTC