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Manitoba's annual inflation rate second highest

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WINNIPEG — Manitoba had the second highest provincial annual inflation rate in the country in August, according to Statistics Canada figures released today.

The agency said Manitoba’s consumer price index inched up to 1.9 per cent from 1.8 per cent in July. The only other province with a higher annual rate in August was Quebec, at 2.0 per cent. The other provinces had rates ranging from 1.0 per cent to 1.7 per cent.

Some of the goods a services that saw the biggest price increases in Manitoba between August of last year and August of this year were fresh or frozen beef (up 17.7 per cent), homeowners’ home and mortgage insurance (10.3 per cent) and homeowners’ maintenance and repairs (8.9 per cent).

Canada’s inflation rate continued to slide in August, dipping one-tenth of a point to 1.2 per cent as most goods and services tracked by Statistics Canada rose moderately or fell compared with the same month last year.

The agency said the result returned the inflation rate to where it stood in May and equalled the lowest level in the consumer price index in more than two years.

The weakness in inflation was anticipated by economists — although the consensus was for the index to remain unchanged — and is typical of a weak economy where retailers and producers face soft demand.

— with files by Canadian Press

murray.mcneill@freepress.mb.ca

 

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