Inflation in Alberta spiked in August
Prices rose in 6 of the 8 major components of the CPI
By Rob Roach, ATB Economics 15 September 2021 1 min read
The Consumer Price Index (CPI) in Alberta rose by 4.7% on a year-over-year basis in August compared to 4.1% nationally.
Excluding gasoline, the CPI in Alberta increased by 3.6%. Gasoline prices were 39.8% higher than in August 2020.
The Bank of Canada’s target range for inflation is 1% to 3%. August was the fourth month this year that the CPI was above the upper end of the range.
Prices rose in 6 of the 8 major components of the CPI. The exceptions were clothing and footwear, which contracted by 1.2%, and household operations, furnishings and equipment, which contracted by 0.2% (mostly due to lower prices for cell phone services).
Food prices increased by 3.5% in August. Meat prices rose by 9.8% while the cost of vegetables fell by 3.8%.
At 4.9%, the inflation rate was higher in Calgary than in Edmonton where it was 4.4%.
Answer to the previous trivia question: There have been 43 federal elections held since 1867.
Today’s trivia question (the fifth of a special non-partisan federal election series): Which Prime Minister holds the record for the shortest amount of time in the position?