Wed Sept 21 2011
Alberta's inflation rate growth leads country in August: 0.5% increase in August
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Alberta's inflation rate growth leads country in August: 0.5% increase in August
CALGARY — Alberta led the country in August with the largest monthly hike in consumer prices.
According to Statistics Canada’s Consumer Price Index released Wednesday, the rate of consumer price growth in the province was 0.5 per cent in August from July, tied with Prince Edward Island for the highest in the country.
On a year-over-year basis, prices are up 2.9 per cent in Alberta.
In the Calgary census metropolitan area, prices rose 0.3 per cent on a monthly basis and 2.6 per cent year-over-year.
Nationally, the federal agency said the CPI rose 3.1 per cent in the 12 months to August, mainly as a result of higher prices for gasoline and food purchased from stores. This follows increases of 2.7 per cent in July and 3.1 per cent in June.
Consumer prices were also up 0.3 per cent from July.
Energy prices rose 13.4 per cent during the 12 months to August. Gasoline prices went up 22.8 per cent, said Statistics Canada.
Food prices went up 4.4 per cent in August.
Food and energy prices rose 7.2 per cent in August. Excluding food and energy, the CPI increased 1.5 per cent in August after advancing 1.2 per cent in the previous month.
“In Alberta, consumer prices advanced 2.9 per cent, after rising 1.9 per cent in July. In addition to paying 19.5 per cent more for gasoline, consumers in Alberta paid 33.8 per cent more for electricity. They also paid more for homeowners’ home and mortgage insurance and for natural gas,†said the federal agency.
The Bank of Canada’s core index rose 1.9 per cent in the 12 months to August, following a 1.6 per cent gain in July.
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