Manitoba’s annual inflation rate held steady at 1.8 per cent in May, but still remained one of the highest in the country, new Statistics Canada data shows.
The agency said Alberta was the only province where the cost of living increased at a faster pace between May or last year and May of this year. Its annual inflation rate was 2.3 per cent.
It said in total, eight provinces saw increases in consumer prices over the past year, while two saw declines.
Canada’s annual inflation rate, meanwhile, was less than half of Manitoba’s, at 0.7 per cent. That was a slight increase from the previous month, when it was an extremely low 0.4 per cent.
The Statistics Canada data shows that while some consumer items in Manitoba increased substantially in price over the May-to-May period, that was offset by price declines for others.
For example, passenger vehicle registration fees were up 29.4 per cent, while cigarettes were 10.8 per cent more expensive. And on the flip side, the cost of prescribed medicines fell 12 per cent, and home entertainment equipment, parts and services were 6.5 per cent cheaper.
Canada’s annual inflation rate for May was below analyst expectations. So, too, was the Bank of Canada’s core index, which rose 1.1 per cent in the 12 months to May. That was on par with April’s increase, and is near the low end of the Bank of Canada’s target range.