Canada inflation surges

Canada's inflation rate surged to 3.0 percent in July, fueled by rising global prices for crude oil, according to government data released Friday.

The year-over-year increase in consumer prices was the largest since September 2011, and follows a 2.5 percent rise in June of this year. Analysts had expected it to remain flat.

Statistics Canada cited continued strength in energy prices for the increase. Gasoline and fuel oil and other fuels were the main contributors to inflation. Global oil prices have risen steadily over the past year, with Brent crude establishing itself above $70 in May.

The costs in Canada of buying passenger vehicles, car insurance, food, telephone services, air transportation and travel tours were also up.