Driving the drop were declines in home resale activity and exports
Headline inflation hit 3.7% in July — the highest year-over-year increase since 2011
Minister Freeland said the government is also freezing rates for the wage and rent subsidies at current levels
The early estimate outpaces the Bank of Canada's most recent expectations
The result was down slightly from May's high
Higher prices will be temporary, the central bank says
The central bank is expected to reduce its weekly purchases of federal bonds on Wednesday
Two-fifths of respondents don't expect a quick return to a normal work schedule
A 5.5% drop in the retail sector drove the monthly decline
How much help the economy will need from the central bank remains uncertain