Statistics Canada says the country’s annual inflation rate rose to 3.3 per cent in July, marking an increase in the pace of price growth since June.

This comes after inflation tumbled to 2.8 per cent in June, falling within the Bank of Canada’s target range of between one and three per cent for the first time since March 2021.

The federal agency says the rise in inflation for July is due to gasoline prices that fell less dramatically from prices a year ago.

In Newfoundland and Labrador, the cost of living increased by 2.5 per cent in July compared with 1.7 in June. Inflation in metro rose by 2.9 per cent last month after going up by 2.2 per cent a month earlier.