Manitoba has Canada’s lowest inflation rate for third straight month
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Hey there, time traveller!
This article was published 16/04/2024 (556 days ago), so information in it may no longer be current.
Manitoba has maintained the lowest rate of inflation across Canada for three consecutive months, new Statistics Canada data shows.
The keystone province clocked a 0.8 per cent year-over-year increase in its inflation rate last March. Nationally, the rate rose slightly to 2.9 per cent.
Manitoba was the only province in January, February and March with a year-over-year inflation rate below one per cent.
The NDP government points to its provincial gas tax freeze.
“One of the first things we did was cut the provincial gas tax, saving you 14 cents a litre every time you fill up,” a statement from Finance Minister Adrien Sala’s office said. “The decision has had a direct impact on inflation in Manitoba.”
Nationally, gas prices increased 4.5 per cent year-over-year in March. In Manitoba, gas prices declined 10.6 per cent.
The provincial government announced an extension to the temporary fuel tax freeze earlier this month. Instead of expiring in June, it will continue until the end of September.
In March 2023, Manitoba’s year-over-year inflation rate was 5.2 per cent. It led Canada’s provinces with the highest inflation rate that month.
The year prior, Manitoba saw a 7.4 per cent year-over-year inflation rate. At the time, only Prince Edward Island had a higher rate of inflation, at 8.9 per cent.
