Statistics Canada reports that Alberta had the highest inflation rate in the country for February 2024. (Photo: Paulbradyphoto | Dreamstime.com)

By David Opinko

Alberta had the highest inflation rate in Canada in February

Mar 19, 2024 | 8:44 AM

Alberta had the largest increase in inflation over the last year among all Canadian provinces and territories.

That is according to Statistics Canada, who reports the Consumer Price Index for the prairie province was 4.2 per cent.

They say a large part of that increase was due to natural gas prices rising by 15.1 per cent year-over-year.

Calgary led the country’s major cities in terms of price growth at 5.1 per cent while Edmonton’s rate was the second-highest at 4.2 per cent. Statistics Canada did not provide data for any other Alberta communities.

The next-highest provincial inflation rate was Quebec at 3.3 per cent while Manitoba saw the smallest jump at just 0.9 per cent.

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The national average was 2.8 per cent as several categories were down.

The agency the cost of wireless services were down by 26.5 per cent and internet rates fell 13.2 per cent.

At the grocery store, costs went up by an average of 2.4 per cent compared to one year ago, marking the first time since October 2021 that food prices rose more slowly than the overall inflation rate.

On the other hand, shelter, which is one of the biggest drivers of inflation, was up 6.5 per cent.

The full report on the Consumer Price Index can be found on the Statistics Canada website.

READ MORE: February inflation rate slows to 2.8% as price growth unexpectedly eases