The Globe and Mail reports in its Tuesday edition that inflation rose to 3 per cent in July, up from 2.8 per cent in June. A Canadian Press dispatch to The Globe says economists believe the data are mild enough for the Bank of Canada to concentrate on trade risks instead of concerns about widespread price hikes. Global energy prices were mainly responsible for the increase, as a ceasefire in Iran remains illusive. Gas prices were up 25.7 per cent year-over-year in July, marking an acceleration from a 20.5-per-cent annual hike in June. Desjardins economist Randall Bartlett says inflation is tracking below the 3-per-cent mark so far in August as gas prices ease and other one-off pressures from earlier in the summer recede. But he says getting a sustained decline in global energy prices is contingent on ending the Iran war. Higher jet fuel prices contributed to a 12-per-cent hike in the cost of airfares last month, up from 9.6 per cent in June. Grocery store inflation has now outpaced the rise in the overall consumer price index for 18 consecutive months. Mr. Bartlett said, "There's a real possibility that food prices could continue to decelerate but still remain elevated compared to where they were, say, pre-COVID."