Canada's headline CPI rose 3.0% in July, edging above forecasts, almost entirely on a jump in gasoline prices tied to Middle East supply concerns. Ex-gasoline inflation has held near 2.2% for three straight months, a reading close enough to target that it points toward a Bank of Canada hold on September 2. That signal could be overridden by bond markets, however, after the 30-year US Treasury yield climbed to its highest level since 2007 this week.
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