Economists on how U.S. inflation resurgence could impact BoC

U.S. consumer prices resurged in August, putting pressure on the U.S. Federal Reserve to unleash another interest rate hike. Here's how the U.S. inflation surge could impact the Bank of Canada.

U.S. Labor Department reported the consumer price index gained 0.1 per cent from a month ago, after data was unchanged in July.

“Frankly, it's an ugly number,” said Benjamin Tal, deputy chief economist at CIBC, in a phone interview Tuesday.

“We knew that gasoline prices would go down, but the surprise is that [they] are broadly based increases.”