P.E.I.'s rate of inflation dropped to 9.5 per cent due largely to decreases in gas prices over the last month. - File PhotoCHARLOTTETOWN, P.E.I. — P.E.I. no longer has double-digit inflation.
Drivers in Charlottetown and Summerside paid an average price of $1.96 a litre for regular, unleaded gasoline throughout last month – a full 58 cents more than they would have paid in July 2021. This represents a 43 per cent increase year-over-year, according to Statistics Canada. The price of gasoline was 35.6 per cent higher in July 2022 than in July 2021 across Canada. The price of gasoline fell the most in July in Ontario, where the Ford government chose to temporarily cut provincial gas taxes for a six-month period.
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