OTTAWA — Economists expect inflation edged higher in July as consumers were getting whiplash at the gasoline pumps.
Statistics Canada is set to provide a look at the consumer price index for July on Monday.
A Reuters poll of economists expects annual inflation rose a tenth of a point to 2.9 per cent last month.
June’s progress toward peace between the United States and Iran led to a pullback in global oil prices and inflation cooled accordingly. But the tentative ceasefire buckled in July and renewed hostilities in the oil-producing region sent gas prices higher again.
Economists at Royal Bank of Canada calculate that, while gas prices remain below
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