Winnipeg Free Press - PRINT EDITION

Manitoba inflation rate rises

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The cost of living in Manitoba edged up a bit in September, as consumers forked out more for things like gasoline, furniture and home and mortgage insurance, Statistics Canada said Friday.

The agency said Manitoba's annual inflation rate rose to 1.7 per cent from 1.6 per cent in August.

That was the fourth-highest rate among the provinces. Newfoundland and Labrador had the highest rate at 2.2 per cent, while British Columbia had the lowest at 0.5 per cent.

Consumer items that saw some of the biggest price increases between September of last year and September of this year in Manitoba were furniture (up 11.8 per cent), homeowners' home and mortgage insurance (11.4 per cent), homeowners' maintenance and repairs (10.7 per cent) and gasoline (8.8 per cent), Statistics Canada said.

Canada's annual inflation rate remained stuck at 1.2 per cent for the third consecutive month in October, continuing a level of stability that will give the Bank of Canada little reason to adjust ultra-low interest rates.

The consumer price index compiled by Statistics Canada was slightly higher than economists had anticipated, given that gasoline prices were known to have fallen during the month, but still at the low end of the central bank's target range.

Core inflation -- which measures underlying price pressures by excluding volatile items such as energy -- stood at 1.3 per cent in October, also below expectations.

Statistics Canada reported gasoline prices were down 1.2 per cent from September -- not as big a decline as anticipated and still 4.0 per cent higher than a year earlier.

 

-- Staff / The Canadian Press

Republished from the Winnipeg Free Press print edition November 24, 2012 B9

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