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Ward 1/pages/news News: December 2016 - Inflation review

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December 2016
Inflation Review

• Calgary CMA’s inflation rate for December was estimated at 0.97 per cent, down from 1.03 per cent the previous month and down from 1.16 per cent for the same time in 2015.  Gasoline prices shot up in December by 7.69 per cent, far in excess of the 5 cents per litre carbon tax implemented in January 2017.  Price increases in recreation (2.35 per cent) and alcoholic beverages (2.25 per cent) were offset by price decreases in rented accommodation (-2.5 per cent) and water and electricity prices (-3.4 per cent).

• The December inflation rate for Alberta was 1.05 per cent  while the Canadian average was 1.5 per cent.  Inflation below the Bank of Canada’s target rate of 2.0 per cent bodes well for Canadian interest rates remaining low, at least for the immediate future.

• Inflationary pressures are building in the Province.   Prices are slowly rising outside the Province and Alberta retailers are having a difficult time passing on those increases during the current recession. At some point in the future Alberta retailers will not be able to absorb those increases and inflation in Alberta and Calgary will spike above the national average. The longer the local recession lasts the higher that future spike in prices could be.

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This content represents the personal views and opinions of the Councillor and should not be taken as a statement of policy of The City of Calgary. The inclusion of any external content does not imply endorsement by The City of Calgary.

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