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Ward 1 News: Inflation Review 2016

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Ward 1 official website

November 2016
Inflation Review

• Calgary CMA’s inflation rate for November 2016 was estimated at 1.0 per cent, down from 1.2 per cent in the previous month and from 1.2 per cent for the same time 2015. Major price increases were recorded for alcoholic beverages and tobacco products (2.6 per cent) and recreation, education and reading (1.5 per cent).  Lower inflation rates for food (-1.3 per cent) and shelter (-0.3 per cent) provided an offset to the aforementioned price increases.

• The November 2016 inflation rate in Alberta was estimated at 0.2 per cent and Canada at 1.2 per cent.  The higher inflation rate for Canada as a whole reflects a stronger economy outside of Alberta.

• Excess capacity in labour and housing markets has weighed on consumer prices.  For example, lower rental rates (-2.5 per cent) is a reflection of higher vacancy rates for rental accommodation in Calgary and this is causing landlords to reduce rental rates for their properties.

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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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