The Globe and Mail reports in it Tuesday, Aug. 18, edition that inflation rose to 3 per cent in July, up from 2.8 per cent in June, as global energy prices remained volatile. The A Canadian Press dispatch to The Globe reports that economists believe the data is mild enough for the Bank of Canada to concentrate on trade risks instead of concerns about widespread price hikes. Global energy volatility was mainly responsible for the increase, as a ceasefire in the Iran war remains illusive. Gas prices were up 25.7 per cent year-over-year in July, Statscan said, 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 fully restoring oil flows through the Strait of Hormuz. Mr. Bartlett says, "A big part of it is really up to President Trump and what's happening in the Middle East and the conflict with Iran." 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, Statscan said.