Statistics Canada released consumer price data today. Consumer price index was flat in August, beating forecast of a 0.1% decline, after a -0.2% drop in July.

On a yearly basis, consumer price index rose 2.1% in August, after a 2.1% increase in July.

The rise of consumer price inflation was driven by higher shelter costs and higher natural gas prices.

Core consumer price index, which excludes some volatile goods, jumped 0.5% in August, exceeding expectations for a 0.2%, after a 0.1% fall in July.

On a yearly basis, core consumer price index climbed 2.1% in August, after a 1.7% gain in July. That was highest level since April 2012.

The increase of core consumer inflation was driven by higher prices for passenger vehicles and telephone services.