July’s inflation rebound not enough to sway the Bank of Canada: economists

July’s rebound in gas prices pushed the annual rate of inflation up to three per cent last month even as there were signs cost pressures were easing at the grocery store, Statistics Canada said Monday.

Gas price rebound drove inflation up to 3% in July: StatCan  Toronto Star

Consumer inflation rose in July as gas prices increased, according to Statistics Canada, with the consumer price index ticking up from June.

Canada Inflation Heats Up to 3% in July  WSJ

US consumers cut retail spending sharply in July  CNN

US consumer inflation mild in July, economy still not out of the woods  Reuters

Energy prices declined 1.5 percent in July but remain 14.7 percent higher compared with a year ago.

On Tuesday night, the president said, “Prices are dropping fast.” Reality clearly shows otherwise.

U.S. markets are pointing higher ahead the opening bell and before the release of key inflation data for July that could provide a better idea of where prices are heading

The government released the consumer price index for July as Americans contend with a tight labor market and elevated energy costs.

The Bureau of Labor Statistics will publish new consumer price index data. Allison Joyce/Bloomberg via Getty Images The Bureau of Labor Statistics will publish new consumer price index data at 8:30 a.m. ET. Economists expect inflation to have cooled modestly in July, with wage growth still falling short. There will be