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Statistics Canada Reports Jump in Inflation

Inflation rose to 3.3 percent in July

The country's inflation rate is showing no signs of slowing down. 

According to Statistics Canada, the rate rose to 3.3 percent last month, which is up from 2.8 percent in June. 

The agency says this is largely due to gas prices. 

Meanwhile, grocery prices rose 8.5 percent on an annual basis. 

The Bank of Canada says its expects inflation to be around three percent over the next year, and hit two percent in 2025. 

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