Canada: CPI rose 1.2% on a year-over-year basis in July, following a 1.0% gain in June

"The Consumer Price Index (CPI) rose 1.2% on a year-over-year basis in July, following a 1.0% gain in June," the Statistics Canada announced on Friday.

Key highlights:

• Prices were up in six of the eight major components in the 12 months to July, with the transportation and shelter indexes contributing the most to the year-over-year rise in the CPI
• Consumer prices for food rose 0.6% on a year-over-year basis in July, matching the gain in June
• On a seasonally adjusted monthly basis, the CPI increased 0.2% in July, after posting no change in June
• CPI remained unchanged on a monthly basis in July