Consumer prices were up slightly in March in British Columbia compared with one month prior, according to Statistics Canada data released April 17.
Inflation was 0.5% over the month – slightly less than the national average of 0.6%. Gasoline in the province saw the biggest increase, rising 6.9%, followed by energy (up 3.8%) and household operations, furniture and equipment (up 2.4%).
Year-over-year, B.C. saw its first increase since March 2013. This is due to the decreased effect of the removal of the HST in April 2013, which had been making some prices lower, making comparison less indicative of actual price changes.
In Vancouver, prices increased 0.7% overall in March. The cost of shelter alone went up 0.1%.
Inflation across Canada overall was 1.5% over the year, after a year-over-year increase of 1.1% in February. This still remains low, below the Bank of Canada’s target rate of 2%.
The biggest country-wide gain compared with March 2013 was energy prices (up 4.6%). The biggest year-over-year gains were seen in:
- Alberta (up 3.9%);
- Prince Edward Island (up 3.0%); and
- Manitoba (up 2.3%).
