加拿大8月通胀维持在3%，潜在压力仍受控

关键论点

• 整体通胀同比持平于3%，能源是价格涨幅偏高的主要来源。
• 基础压力受控：核心指标接近2%目标，通胀广度收窄。
• 目前证据有限，显示高能源成本尚未在航空旅行等能源密集型类别之外产生显著二轮通胀。
• RBC基准情形：加拿大央行2026年全年按兵不动，2027年逐步加息；若能源价格持续高企且经济与劳动力市场继续复苏，风险偏向更早加息。

对应原文证据

1. Canadian inflation held at 3% year-over-year in August, unchanged from July.
2. Energy price growth remained elevated but was little changed, with gasoline prices edging lower from July while remaining 23% above year-ago levels.
3. Food inflation continued to put pressure on household budgets but ticked lower to 2.8% year-over-year in August, the lowest since late 2024. · 2024