B.C. inflation leads country in 2019

At 2.4%, Statistics Canada's consumer price index for British Columbia is the highest in Canada

The rate of inflation in B.C. started 2019 outstripping the pace of price increases in other parts of the country.

According to Statistics Canada's consumer price index (CPI) for the month of January, inflation in B.C. rose by 2.4% year-over-year, a full percentage point above the national average (1.4%).

Inflation in Ontario (1.5%), Quebec (1%) and Alberta (1.2%) all lagged behind Canada's westernmost province.

The new data out today (February 27) shows energy prices and a 16%-drop in airfare costs pulled country's index down from 2% in December 2018.

Falling gasoline prices (-14.2%) and the cost of digital computing devices and equipment (-9.2%) were among the top contributors to year-over-year CPI changes nationally.

The cost of fresh vegetables (+13.2%) and mortgage interest costs (+7.8%) influenced the index in the opposite direction.

hwoodin@biv.com
@hayleywoodin