Canada inflation rises to 1.3% in July

Canadian consumer prices rose 1.3 percent in July, led by higher new car and gasoline prices, the government statistical agency said Friday.

The reading marked a small increase in inflation from June.

Statistics Canada said natural gas prices and rents increased year-over-year, while mortgage interest cost declined. Prices of fresh fruit and vegetables and meat were also up.

Healthcare costs, meanwhile, continued to fall for a fourth consecutive month due to lower prescription drug costs, following more than a decade of price increases.