Statistics Canada has reported the Consumer Price Index for November 2023. (Photo: Pattison Media)

By David Opinko

Inflation hits 2.5% in Alberta, below national average

Dec 19, 2023 | 10:48 AM

LETHBRIDGE, AB – Prices continued to rise in Alberta, but at a slightly lower rate than in some other parts of Canada.

Statistics Canada reports that the Consumer Price Index (CPI) increased on a year-over-year basis nationally by 3.1 per cent in November.

The growth in prices was lead by higher rates of mortgage interest costs (+29.8 per cent), rent (+7.4 per cent), and food purchased from grocery stores (+4.7 per cent).

At the grocery store, shoppers found themselves paying more for sugar and confectionary items (+8.3 per cent), vegetables (+5.8 per cent), and meat (+five per cent). On the other hand, non-alcoholic beverages went down in price (-0.6 per cent).

Grocery prices rose at a slower pace compared to October’s annual reading of 5.4 per cent.

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The cost of electricity was up by 8.2 per cent year-over-year in November, following a 6.7 per cent rise in October.

Statistics Canada did not provide category breakdowns at the provincial level, but say the CPI in Alberta was up 2.5 per cent in November. That marks an increase from October’s inflation rate of 2.1 per cent.

Statistics Canada has released its report on the Consumer Price Index for November 2023. (Photo: Statistics Canada)