According to a report released Friday by Statistics Canada, the Consumer Price Index rose by 2.6 per cent in Alberta and 2.2 per cent in Canada.
The federal agency said all eight major components of the index at the national level increased on a year-over-year basis in May, although five of the eight major components grew at a slower rate. The transportation index rose 5.6 per cent in May, following a 4.7 per cent increase in April.
“Energy prices rose 11.6 per cent year over year in May, following a 6.3 per cent increase in April. This growth was led by the gasoline index, which rose 22.9 per cent in the 12 months to May. The electricity index (-0.8 per cent) posted a smaller decline on a year-over-year basis in May than in the previous month. Prices for fuel oil and other fuels were up 22.2 per cent in the 12-month period ending in May,” said StatsCan.
“The all-items excluding energy index increased 1.6 per cent on a year-over-year basis in May after a 1.9 per cent increase in April. The principal factor offsetting the increase in May was a decline in the telephone services index, which fell 7.1 per cent year over year, following a 0.9 per cent decrease in April. The traveller accommodation index declined 4.2 per cent in the 12 months to May.”
Respected business writer Mario Toneguzzi is a veteran Calgary-based journalist who worked for 35 years for the Calgary Herald in various capacities, including 12 years as a senior business writer.
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