Inflation holds at 3% in August as rent, travel prices rise: StatCan

Statistics Canada says the annual rate of inflation was unchanged at three per cent in August as a slowdown in rising gas prices was offset by higher rent and travel tour costs.

The agency says gasoline costs continued to increase in August but at a slower pace, with prices up 22.8 per cent compared with 25.7 per cent a month earlier, as the conflict in the Middle East continued to weigh on prices.

Excluding gasoline, consumer prices rose 2.4 per cent last month.

StatCan says grocery prices increased at a slower pace than overall inflation for the first time in more than two years, with prices rising 2.8 per cent year-over-year.