Inflation Likely Gained Pace in August, Economists Expect, Reversing Progress

A person is silhouetted as people shop for produce at the Granville Island Market in Vancouver, on July 20, 2022. The Canadian Press/Darryl Dyck

Economists are forecasting inflation reaccelerated to around four percent last month, reversing previous progress made as gasoline prices push inflation higher.

Statistics Canada’s August consumer price index report set to be released Tuesday is expected to show the annual inflation rate rose for a second month in a row.