Canada's Inflation Rate Stays at 3% as Gas Prices Slow

Canada's inflation rate held steady at 3% in August, matching expectations and marking a slight decline from July. The Consumer Price Index (CPI) dropped 0.1% from the previous month, as predicted by economists.

The annual increase in gas prices slowed to 22.8%, down from July's 25.7%. However, travel tour prices surged 26.1% year over year, and rent rose to a 2.8% annual gain.

Despite the steady core readings, policymakers are on high alert due to concerns about inflation risks linked to the Iran war and renewed trade friction with the US.