Inflation rises

Gas, food push annual inflation rate to 3.1% last month.
Canada’s annual inflation rate jumped 0.4% in August as you paid more for gasoline, food and many other items as well.
Motorists paid 22.8% more at the pumps last month than in August 2010, and food cost 4.4% more.
Other items that saw noticeable gains were passenger vehicles, home and mortgage insurance, jewelry, phone services and electricity.
According to Stats Canada, core inflation, which excludes volatile items such as energy and some foods, rose slightly to 1.9%.
The surprisingly strong jump reverses a recent trend to more moderate inflation, which had seen the rate fall from 3.7% during May to 2.7% in July.

Video: DeGroote School of Business professor Marvin Ryder on the new stats: