Canada’s annual inflation rate held steady in August, while wholesale trade unexpectedly declined in June, Statistics Canada (Statscan) said in two reports Friday.
The annual inflation rate was 2.1 percent in August, with higher housing costs—specifically for natural gas—offsetting cost declines in other sectors. The annual core inflation rate, which excludes volatile energy and food costs, rose to 2.1 percent—the highest rate since spring 2012—from 1.7 percent in July.
In a second report, Statscan said wholesale trade fell by 0.3 percent in July, led by agricultural supplies. Colder and wetter weather in the western provinces led to higher-than-normal sales of agricultural supplies in June and lower-than-normal sales in July.