Economy

Economic Commentary

Economic Calendar

Global Economies

Global Economic Calendar

Inflation up 2.1% in August

The cost of living found its way up again last month.

Figures released Friday by Statistics Canada said this country's consumer price index rose by 2.1% in August compared to the same month last year, led by higher prices for housing and food.

The agency reported Friday that prices rose in every category it tracks.

Shelter costs rose by 2.8%, with increases in rents and house prices.

Food prices rose 2.2%, less than the 3.2% recorded in July as lower-priced local, fresh vegetable and fruit helped reduce food bills. At the same time, consumers are paying 9.3% more for meat than they were last year.

A 7.6% increase in the cost of telecommunications services also boosted inflation.

The overall inflation rate is the same as the 2.1% recorded in July.

Core inflation, which the Bank of Canada closely monitors and which excludes some items from the volatile energy and food categories, rose by 2.1%, after an increase of 1.7% in July.

On a seasonally adjusted basis, inflation was up 0.1% in August compared with the previous month, when it fell by 0.1%.