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Inflation edges down in Alberta

Inflation edges down in Alberta

Posted on: 2/28/2019 | Author: ATB Financial's Economics + Research Team

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Prices in Alberta increased by 1.2 per cent between January 2018 and January 2019. The year-over-year inflation rate for the country as a whole was 1.4 per cent.

On a monthly basis, inflation in Alberta was flat (zero per cent) between December 2018 and January 2019. This followed two months of price deflation in November (-0.5 per cent) and December (-0.1 per cent).

As consumers, we tend to notice changes to the price of food and gasoline. Year-over-year food prices in Alberta increased by 2.2 per cent in January. Year-over-year energy prices in Alberta were down 4.0 per cent, reflecting lower gasoline prices.

The average cost of shelter in the province increased by 2.8 per cent.

At the moment, the inflation rate in Canada is below the Bank of Canada’s target of 2.0 per cent. We can’t be sure, but this might lead the Bank to keep interest rates where they are for now.

CPI, graph​​

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