Statistics Canada to release August inflation figures today

OTTAWA — Statistics Canada is set to release its August consumer price index report this morning.

Economists polled by Reuters are expecting the report to show prices rose 2.1 per cent from a year ago, down from a 2.5 per cent annual gain in July.

Inflation has remained below three per cent throughout 2024, giving the Bank of Canada room to begin cutting interest rates, which it has done three times so far this year.

The Bank of Canada’s key lending rate now stands at 4.25 per cent.