Vessel traffic through the Strait of Hormuz remains well below its pre-conflict pace even after a partial recovery, a gap that matters because gasoline prices were the entire reason Canada's June inflation cooled to 2.8 percent from May's 3.2 percent. That relief was tied to a ceasefire window that had already collapsed before the data was released. July's inflation reading, due August 17, lands two weeks before the Bank of Canada's September 2 decision.
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