Canadian inflation up 1.3 % in July

Canada's Consumer Price Index rose 1.3 percent on an annual basis in July, with prices up in every sector except clothing, Statistics Canada reported Friday. "Food prices rose 2.1 percent in the 12 months to July following a 2 percent advance in June," the agency said. "Shelter costs rose 1 percent in the 12 months to July after increasing 1.3 percent the previous month." Prices for overall transportation rose 1.1 percent on a year-over-year basis. Within that sector, the price of new passenger vehicles increased 2.3 percent in July, following a 3.9 percent rise the previous month. Within the broad energy sector, natural gas prices plummeted 15.2 percent on an annual basis. Gasoline prices fell 1.3 percent, the report said. The only major component that declined in the 12 months to July was clothing and footwear, down 0.7 percent, led by price decreases for women's clothing.