Canada's July annual inflation accelerates to 3% as gasoline rebounds

Canada’s annual inflation rose to 3% in July — at the top of the Bank of Canada’s 1–3% range — mainly driven by a 25.7% jump in gasoline prices and higher travel costs (hotels/flights to U.S. World Cup cities).
Core inflation remained around 1.9–2%, which keeps the Bank of Canada likely to keep interest rates on hold for the rest of the year.
Grocery inflation has outpaced overall CPI for the 18th month, while shelter costs stayed subdued; the Canadian dollar ticked up slightly after the data.