Canada's inflation cools to 2% in August, the smallest gain since early 2021

Canada's annual inflation hit 2 percent in August, the lowest level since February 2021.
This decrease in inflation was due to the decrease in the price of gasoline, telephone services, and clothes and shoes.
Housing costs are still rising, but at a slower pace than in previous months.
The Bank of Canada expects inflation to reach its target of 1 to 3 percent in the coming years.
Markets expect the Bank of Canada to cut interest rates in its next monetary policy meeting.

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