Evening Update: Canada’s inflation rate ticks up to 3.3 per cent in July, raising odds of rate hike

News Snapshot:

Good evening, let’s start with today’s top stories: The annual inflation rate ticked up to 3.3 per cent, moving back above the Bank of Canada’s target in July, raising the odds of another interest rate hike from the central bank. Several measures of core inflation eased in July, but CPI-trim and CPI-median, the central bank’s two preferred measures, were still running at an average annual rate of 3.65 per cent, well above the 2-per-cent target. Canadians still face rising prices at the grocery store, although at a slower pace than before. Grocery prices were up 8.5 per cent in July...