Canadian cost of living jumps in August

The prices of gasoline and food drove Canadians' cost of living up 3.1 percent on an annual basis in August, Statistics Canada reported from Ottawa Wednesday. The rise in inflation follows a 2.7 percent annual increase in July and a 3.1 percent jump in June, the agency said. "Energy prices rose 13.4 percent during the 12 months to August, following a 12.9 percent increase in July," StatsCan said. "Gasoline prices went up 22.8 percent, compared with the 23.5 percent increase in July." In Ontario, the country's most populous province of 13.2 million people, gasoline prices were up 25.4 percent on an annual basis in August, the agency said. On a monthly basis within the Consumer Price Index, food prices rose 4.4 percent in August on the heels of a 7.1 percent jump in July and overall consumer prices rose 0.3 percent, the report said. "On a year-over-year basis, prices increased in all eight major components of the CPI in August," the report said. Price increases were also seen for passenger vehicles, electricity, homeowners' home and mortgage insurance, telephone services and jewelry.