Canada's Inflation Rate Remains Steady, But Upside Risks Build

The Canadian Consumer Price Index (CPI) remained stable at 3.0% year-over-year in August, meeting expectations according to Continuum Economics.

However, the seasonally adjusted ex food and energy CPI saw a fourth consecutive increase of 0.3%, with its year-over-year rate picking up to 2.1%

This uptick in inflationary pressures is seen as a potential catalyst for the Bank of Canada to tighten monetary policy in December