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Canada's inflation hits 3% amid US fee prep
The inflation rate in Canada rose to 3% in July, due to the repercussions of the conflict in the Middle East, particularly the 27.5% increase in gasoline prices compared to the previous year, and its impact on the tourism and travel sectors. Although inflation is at the upper limit of the targeted range, economic experts have ruled out a near-term interest rate hike due to tensions with the United States, which threaten to impose new tariffs that could put additional pressure on the Canadian economy.
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