British Columbia posted the largest year-over-year increase in Canada when it came to the Consumer Price Index (CPI) last month.
It rose 1.9% in July following a gain of 1.7% in June.
Housing and utility costs were mostly responsible for the jump.
“This index was up 2.6% in the 12 months to July following a 2.2% gain in June. Within shelter, homeowners replacement costs in BC rose more in the 12 months to July than in June,” says Zachary Glazier, Statistics Canada analyst.
Gasoline prices in the province also went up 3.4% on a year-over-year basis, which is a similar result to June.
Food didn’t get any cheaper either says, Glazier. “Prices for food purchased from stores in British Columbia rose 0.04% in July while at the national level prices fell 0.1%.”
Consumer prices rose in seven provinces including :
British Columbia 1.9%
Prince Edward Island 1.8%
Alberta 1.0%
Nova Scotia 0.9%
Quebec 0.9%
Manitoba 0.9%
Saskatchewan 0.8%
Canada’s CPI for the month of July accelerated 1.2% last month.