Inflation reached 3 per cent in July: Statistics Canada

"July was the 18th consecutive month that grocery price inflation outpaced the all-items CPI," wrote Statistics Canada.

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Inflation hit three per cent last month, as gas prices rose by 25.7 per cent year-over-year in July, up from a 20.5 per cent gain in June, according to Statistics Canada’s monthly data.

Excluding gasoline, the all-items Consumer Price Index also rose 2.2 per cent for the third consecutive month.