Sask. inflation rate dips below national average
Saskatchewan’s inflation rate dipped below the national average in August.
Statistics Canada’s Consumer Price Index cooled across the country last month, with the national inflation rate sitting at 7.0 per cent year over year, dropping from 7.6 per cent in July.
Saskatchewan’s inflation rate for August was 6.8 per cent – down from 8.1 per cent last month.
That mark places the province with the third lowest inflation rate for August, ahead of only Newfoundland and Labrador (6.4 per cent) and Alberta (6.0 per cent).
Prince Edward Island (8.3 per cent) and Manitoba (8.0 per cent) lead the country in change since August 2021.
Statistics Canada said this is the second consecutive slowdown for year-over-year price growth at the national level. The decline was largely driven by lower gas prices in August.
Saskatchewan and Alberta saw the greatest decline in gas prices on a monthly basis in August, each down 17 per cent from July. The declining prices coincided with lower retailer margins, Statistics Canada said.
Nationally, gas prices were down 9.6 per cent on a monthly basis, following a decline of 9.2 per cent in July.
StatsCan said the decline in August stemmed from high global production from oil companies.
CTVNews.ca Top Stories
'State or state-sponsored actor' believed to be behind B.C. government hacks
The head of British Columbia’s civil service has revealed that a “state or state-sponsored actor” is behind multiple cyber-security incidents against provincial government networks.
Here's how much more Canadian landlords are asking for now, according to a just-released report
A new report says the average asking rent for a home in Canada in April was up 9.3 per cent compared with a year ago, while a slight month-over-month increase was also recorded for the first time since January.
Rare severe solar storm Friday could bring spectacular aurora light show across Canada
A rare and severe solar storm is expected to bring spectacular displays of the northern lights, also known as aurora borealis, across much of Canada and parts of the United States on Friday night.
Swarm of 20,000 bees gather around woman’s car west of Toronto
A swarm of roughly 20,000 bees gathered around a woman’s car in the parking lot of Burlington Centre.
What is basic income, and how would it impact me?
Parliamentarians are considering a pair of bills aiming to lift people out of poverty through a basic income program, but some fear these types of systems could result in more taxes for Canadians who are already financially struggling.
Canada abstains from Palestinian UN membership vote but supports two-state solution
Canada was one of 25 countries that abstained from a United Nations vote on Palestinian membership that passed with overwhelming support on Friday.
'I may have some nightmares:' Man survives being bitten by 2 sharks in Bahamas
A man who was bitten by two sharks in the Bahamas said Thursday he's 'thankful that I'm here' while sharing his story of survival.
Out-of-control wildfire burning near Fort McMurray
As of 9 a.m. on Friday, the wildfire burning 28 kilometres southwest of the northeastern Alberta city was 25 hectares in size.
Mexico's president accuses press and volunteer searchers for missing people of 'necrophilia'
The administration of Mexico's president has accused the press and volunteer searchers who look for the bodies of missing people of 'necrophilia,' comments that drew criticism this week.