The Globe and Mail reports in its Wednesday, Sept. 18, edition that Canada's annual inflation rate has reached the Bank of Canada's 2-per-cent target for the first time since 2021. The Globe's Matt Lundy and Mark Rendell write that this marks a significant moment for the Canadian economy following the most severe inflation surge in a generation. According to Statistics Canada, the consumer price index increased by 2 per cent in August, down from 2.5 per cent in July. This result was slightly lower than the 2.1 per cent estimated by analysts. Additionally, on a monthly basis, consumer prices decreased by 0.2 per cent. Senior deputy governor Carolyn Roger said: "It's been a tough journey. We're glad to see 2 per cent. We want to see a sustainable return to 2-per-cent inflation. So that's still to come." Higher lending rates have tempered demand in the economy, which has helped to control price pressures but has also caused damage to the labour market, resulting in rising unemployment. However, it seems that the fight against inflation is coming to an end. As a result of the progress made so far, the BOC has begun to reduce interest rates, providing some relief to consumers and businesses.