Alberta’s inflation rate holds steady

Alberta’s inflation rate held steady at 1.3 per cent in September, compared to 1.9 per cent nationally, a report by ATB Financial’s economics and research team states.

British Columbia posted the highest year-over-year change in prices among the provinces at 2.4 per cent. Newfoundland and Labrador had the lowest rate at 0.5 per cent.

Food prices in Alberta were up 3.9 per cent in September compared to a year earlier, led by rises in the cost of vegetables (11.7 per cent) and meat (6.7 per cent).

The price of food purchased from stores was up by 4.2 per cent compared to 3.3 per cent for eating out.

Shelter costs in the province were up by 1.8 per cent, with rental accommodation rising two per cent, owned accommodation by 1.7 per cent, and water, fuel and electricity by two per cent.

The Consumer Price Index rose by 1.4 per cent in the Edmonton Census Metropolitan Area and by 1.1 per cent in the Calgary Metropolitan Area.

When highly volatile gasoline prices are excluded, Alberta’s inflation rate in September was 2.3 per cent and closer to the national average of 2.4 per cent.

Gasoline prices in Alberta were down 21.1 per cent on a year-over-year basis in September, compared to an average drop of 10 per cent for the country as a whole.

The drop in gas prices pushed down the cost of operating a passenger vehicle in Alberta by 5.5 per cent, while the cost of public transit rose by 1.5 per cent.



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