Canada’s annual inflation rate climbed to three per cent in July, according to new figures released Monday by Statistics Canada.

That’s up from 2.8 per cent in June, with higher gasoline prices playing a major role in the increase.

Gas prices were up 25.7 per cent compared with July of last year, while grocery price growth slowed, with food purchased from stores rising 3.1 per cent year-over-year.

The three-per-cent inflation rate now sits at the upper end of the Bank of Canada’s target range.

That should land right around your 30-second Tuesday morning read. StatsCan is the primary source for the numbers.