Alberta's rate of inflation rose to 3.4 per cent in January, while Calgary led Canadian major cities with an inflation rate of 4.1 per cent.the national inflation rate cooled to 2.8 per cent in January, while Alberta’s rate of inflation rose to 3.4 per cent.
“In January last year, we had the rebate on electricity that was put in place by the government that drove electricity prices down,” St-Arnaud told Global News. “We don’t have that decline this year.”Higher utility costs also played a factor in Calgary’s inflation rate rising to 4.1 per cent in January, which is the highest among major Canadian cities.of the January inflation numbers, “unprecedentedly high” rental prices have also played a part in the city’s growth in inflation.
“Our labour pool is going to expand, and that should sort of dampen the upward pressure on wages,” Yedlin said. “There has been a supply response in terms of construction of new housing, and there’ll be new buildings coming online and that should also help moderate the pressure on housing costs.” The report also suggests the increases to the carbon tax and the upcoming federal alcohol tax in April will also “further impact the costs of living throughout 2024.”
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