Annual pace of inflation hits 3.7 per cent in July, largest rise since 2011

Statistics Canada says the annual pace of inflation rose to 3.7 per cent in July, the biggest increase since May 2011.

The year-over-year increase in the consumer price index compared with a 3.1 per cent increase in June as more of parts of the economy reopened, giving consumers more opportunities to spend.

Statistics Canada says only part of the year-over-year rise is due to comparing prices to the lows seen one year ago.

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